News of BlackRock registering the iShares Ethereum Trust increased expectations that the asset manager may eventually apply for an Ether spot exchange-traded fund. This is a positive sign as it shows that BlackRock’s cryptocurrency aspirations are not limited to Bitcoin.
Market observers are increasingly optimistic that spot Bitcoin ETFs will be greenlighted by the United States Securities and Exchange Commission in 2024. Bloomberg Intelligence research analyst James Seyffart said on X (formerly Twitter) that there is still a 90% possibility that the regulator will approve a spot Bitcoin ETF by Jan. 10 of the next year.
