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After Nasdaq’s listing for BlackRock’s Ethereum exchange-traded fund (ETF), price of Ethereum crossed $2000. In this post from “Pooyan Music” you will read a report about this.
The approval of the Ethereum ETF led to an increase in its price of about 9% in 24 hours. The highest price record of the day is 2132 dollars. The price increased by 3% compared to the level before registration. Ethereum trading volume also increased by about 170% last day.
BlackRock, the world’s largest asset management firm, filed a 19b-4 for its Ethereum ETF with Nasdaq, where it seeks to list the program. Earlier on November 17, BlackRock registered the iShares Ethereum Trust in Delaware. This has hinted at the possibility of an ETF filing and has already heated up the market.
The document also revealed that once the BlackRock Ethereum ETF is approved, Coinbase Custody Trust will maintain custody of all Ethereum as the primary custodian.
According to Dune Analytics, in addition to the increase in the price of Ethereum, the average price of Ethereum gas also increased and reached 291.2 gwei momentarily.
The Ethereum altcoin has also risen to match the rise in the price of Ethereum. The price of Ethereum Classic (ETC) exceeded the $20 mark and reached $21.16; which was an increase of about 13% compared to the previous 24 hours.
Before listing the iShares Ethereum Trust and Ethereum ETF on Nasdaq, BlackRock did the same in June. At that time, he registered the iShares Bitcoin Trust and seven days later applied for his Bitcoin ETF. Financial advisors and analysts predicted that if the Securities and Exchange Commission (SEC) approves the Bitcoin ETF application, the price of Bitcoin could skyrocket.
BlackRock is increasingly confident that it will approve the Bitcoin ETF by January. What sources have told Fox.
— Charles Gasparino (@CGasparino) November 9, 2023
Before the U.S. Stock Exchange approves a Bitcoin ETF, a popular new platform plans to ride through a potential wave of approvals. According to Fox Business, BlackRock is increasingly confident that the Bitcoin ETF will be approved by January 2024.
