BlackRock Files to Create Ethereum ETF

BlackRock Files to Create Ethereum ETF

BlackRock Files to Create Ethereum ETF

BlackRock, the world's largest asset manager, has filed to create an Ethereum exchange-traded fund (ETF). The iShares Ethereum Trust would be the first ETF to track the price of Ethereum, the second-largest cryptocurrency by market capitalization. The filing was made with the Securities and Exchange Commission (SEC) on Tuesday, November 9.

The Ethereum ETF would track the MVIS CryptoCompare Ethereum Index, which measures the performance of the 15 largest Ethereum-based tokens. The index is calculated by MV Index Solutions, a provider of financial indices.

The iShares Ethereum Trust would be listed on the New York Stock Exchange (NYSE). The filing with the SEC said that the ETF would invest in Ethereum through Grayscale Investments, a company that provides investment products for cryptocurrencies.

The filing of the Ethereum ETF by BlackRock is a sign of the growing interest in cryptocurrencies from institutional investors. In recent months, a number of other large financial institutions have filed to create ETFs that track the price of cryptocurrencies.