The BlackRock iShares Ethereum Trust has been officially registered in the state of Delaware.
The establishment of this new corporate entity may indicate a forthcoming filing with the SEC.
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BlackRock has officially registered an Ethereum trust in the state of Delaware, marking a potential initial move towards the creation of a spot Ether exchange-traded fund (ETF). This follows BlackRock's registration of a Bitcoin trust in June, a precursor to filing for a Bitcoin ETF with the United States Securities and Exchange Commission (SEC).
The new entity, named iShares Ethereum Trust, was registered by the state's Division of Corporations on November 9, with Daniel Schweiger listed as the registered agent at BlackRock's Wilmington, DE address. Schweiger, a managing director at BlackRock, is associated with the iShares brand, which is under the BlackRock umbrella.
While there have been previous SEC applications for spot Ethereum ETFs, none have received approval thus far. Decisions on applications from ARK 21Shares and VanEck, delayed until December 25 or 26, are pending. Invesco and Galaxy Digital applied for spot Ethereum ETFs after these delays. Additionally, Grayscale sought to convert its Grayscale Ethereum Trust into a spot ETF in October.
On the same day as the Ethereum trust registration, ARK Invest and 21Shares announced the launch of digital asset ETFs focused on long-term Bitcoin and Ethereum futures contracts.
As the world's largest asset manager with approximately $9 trillion in assets under management, BlackRock's spot Bitcoin ETF is currently under consideration by the SEC.
The news of BlackRock's Ethereum trust registration has led to a 6.98% rise in ETH, surpassing the psychologically significant $2,000 mark and achieving its highest price since April. This development counteracts the recent subdued performance of the cryptocurrency. BlackRock has chosen not to provide comments in response to inquiries from Cointelegraph.
