BlackRock, the world's largest asset manager, filed for a spot Ether exchange-traded fund with the U.S. Securities and Exchange Commission on Nov.. 15.
The ETF, named the iShares Ethereum Trust, is designed to reflect the performance of the price of Ether.
The move, which follows BlackRock's application for a spot Bitcoin ETF, marks a significant step by the asset manager as it stands to become one of the main providers of crypto exposure for Wall Street. Approval of spot ETFs would be a positive sign for the broader crypto market, potentially unlocking billions from institutional investors.
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