BlackRock’s Ethereum Trust and Crypto Regulations
BlackRock, the world’s largest asset manager, has taken a step towards an Ethereum (ETH) spot exchange-traded fund (ETF) by registering an Ethereum trust in the state of Delaware. This move follows the registration of a Bitcoin (BTC) trust by the firm in June, shortly before submitting an official request to the United States Securities and Exchange Commission (SEC) for a Bitcoin ETF.
The trust was registered by the state’s Division of Corporations with a formation date of November 9. The agent of registration is Daniel Schweiger, a managing director at BlackRock, at the firm’s address in Wilmington, DE. ETH prices have risen 5.77% since the news broke, although BlackRock declined to comment when approached by Cointelegraph for inquiries.
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