Nasdaq confirms BlackRock’s filing to launch the iShares Ethereum Trust, a spot Ethereum ETF.

Nasdaq confirmed BlackRock’s proposal to register the iShares Ethereum Trust — a spot ETF based on the second-largest cryptocurrency. The exchange filed the corresponding заявку with the SEC on behalf of the investment giant.

If approved, the product would be listed on Nasdaq’s platform.

According to the document, the ETF’s custodian will be Coinbase. The exchange is also mentioned in the joint surveillance agreement to prevent fraud and market manipulation.

ETF Store president Nate Geraci noted that the description includes a reference to Grayscale’s win in the court case against the SEC regarding the conversion of GBTC into a spot exchange-traded fund.

Key language in Nasdaq/iShares spot ether ETF filing…

Grayscale court win + SEC approval of ether futures ETFs should = spot ether ETF approval https://t.co/IUO0wixNCR pic.twitter.com/TclQyOfWjx

— Nate Geraci (@NateGeraci) November 9, 2023

As of the end of 2022, BlackRock’s assets under management totaled $8.59 trillion.

The company’s proposal appeared on the Delaware Department of Corporations’ website.

In June BlackRock also filed an application to launch a Bitcoin-based ETF. At that time, information on the SEC’s site appeared seven days after registration in the mentioned state.

The news triggered a breach of Ethereum’s $2,000 level.

The confirmation contributed to positive momentum. At the time of writing, the 24-hour price rise for the second-largest cryptocurrency had reached 9.6%, according to CoinGecko. Prices held above $2,100.

Trader SatoshiFlipper noted the prospects for accelerated growth if the upper boundary of the ascending triangle is breached.

Wanted to look at the $ETH/USDT chart after the BlackRock news today …

… an ascending triangle reversal at resistance with none of the ETF news priced in?

Are you kidding me, look at this beauty lol

You don’t have enough #Ethereum right now, trust. pic.twitter.com/dVjNczALFw

— Satoshi Flipper (@SatoshiFlipper) November 10, 2023

Jeffrey Kendrick, head of research at Standard Chartered, predicted the price rise of the second-largest cryptocurrency to $8,000 by the end of 2026.