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Six major institutions compete for Ethereum spot ETF! BlackRock joins the battle, ETH breaks through 2100

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Six major institutions compete for Ethereum spot ETF! BlackRock joins the battle, ETH breaks through 2100

Asset giant BlackRock made waves again yesterday when a keen-eyed Twitter account @SummersThings discovered that BlackRock registered an "Ethereum Spot ETF" in Delaware. Bloomberg ETF analyst James Seyffart later confirmed that BlackRock had submitted an application along with the exchange Nasdaq!

ETH Surges on News, 24-Hour Increase Reaches 12%

ETH broke through $2,000 last night on news and continues to rise, currently at $2,121 at the time of writing. It has seen a 12% increase in the last 24 hours.

Source: Binance

Six Applicants, Next Review Deadline on 11/17

Ark Invest, in collaboration with 21Shares, submitted an application for an Ethereum spot ETF back in early September when everyone was still discussing a Bitcoin spot ETF. Another market pioneer, VanEck, submitted an S1 application for an Ethereum spot ETF in May 2021. The exchange it collaborates with, Cboe BZX, simultaneously submitted a 19b-4 form on 9/6.

Ark Challenges the SEC Again, Submits ARK 21Shares Ethereum Spot ETF Application

Subsequently, there were applications from Hashdex with strategy changes, Invesco Galaxy Ethereum ETF, and Grayscale's Grayscale Ethereum Trust ETHE undergoing a transformation. Then came BlackRock's iShares Ethereum Trust that shook the market last night!

According to compiled data, VanEck, Ark 21Shares, and Invesco Galaxy all had longer review periods designated by the SEC in early October, while Hashdex and Grayscale's transformation review periods fall on next week's 11/17. Coincidentally aligning with the first window of the Bitcoin spot ETF!

Bitcoin Spot ETF Update: 11/17 is the first opportunity, with a high probability of approval by January next year.

BlackRock's documents have not yet appeared on the Federal Register.