Investment management giant – Blackrock’s spot Ethereum ETF application officially makes its way to the SEC’s desk. The firm has officially submitted its S-1 application for the spot Ethereum ETF on November 15, 2023.
The move comes days after the firm confirmed its big plan for Ethereum through a Nasdaq filing. According to Colin Wu, an S1 filing is a “registration statement filed by a company with the SEC and is an important step in the listing process.”
Interestingly, the predicted development has not had a major impact on the price of Ethereum (ETH). According to CoinMarketCap, at press time, ETH was trading at $2069.45 with a market cap of over $248 billion. The past hour chart showed gains by just over 1 percent, while the 7-day chart registered a massive uptrend of over 8 percent.
The story is still developing…