As it continues to await regulatory approval from the SEC to launch a Bitcoin spot ETF, BlackRock, the world’s largest asset manager, is preparing to create an Ethereum spot market exchange-traded fund, or ETF. This and more news in this handy daily summary so that you are always informed with the most recent events that occur within the crypto world.
BlackRock registers Ethereum-based trust
📍BlackRock, the world's largest asset manager, has stirred up the crypto market with the registration of a new trust. On Thursday, the asset management company filed to register the iShares Ethereum Trust in Delaware, a trust that will hold ether, the native cryptocurrency of the Ethereum network, and allow investors to access the cryptocurrency without the complexities of self-custody.
With the registration of this trust, BlackRock is taking its first steps towards a possible Ethereum spot ETF. In fact, the asset manager confirmed that it is interested in creating such an investment product.
In a presentation In a filing with Nasdaq after the iShares Ethereum Trust was registered in Delaware, BlackRock said it would like to launch an Ethereum exchange-traded fund on the spot market.
In the filing, the fund manager also stressed that the SEC has already given its approval to investment products based on Ethereum futures, which are settled using the Chicago Mercantile Exchange (CME) reference rate and whose price is based on the asset's spot market, so he believes that it should also give its approval to a spot ETF of the cryptoasset.
Ethereum price has broken through the $2.000 mark, boosted by the BlackRock news. At the time of writing, ether is up 12% over the past 24 hours.
Over the past year, the native cryptocurrency of the Ethereum network has increased by more than 95%.
Source: CoinMarketCap
Various analysts considering that BlackRock’s unveiling of a new Ethereum-based product may be a sign that a Bitcoin spot ETF “is due.”
Laser Digital is also interested in Ethereum
📍Nomura subsidiary Laser Digital Asset Management has introduced an Ethereum investment product. Following the news from BlackRock, Laser Digital announced the launch of the Ethereum Adoption Fund, a fund aimed at institutional investors, in which they will be able to invest in long spot ether positions and obtain benefits from the yield generated by staking the cryptocurrency.
Through this new fund, which is being launched almost two months after introducing a Bitcoin adoption fund for institutional investors, Laser Digital wants to expand the investment options that exist to access cryptocurrencies.
Standard Chartered and SBI to invest in crypto companies
📍British bank Standard Chartered and financial services corporation SBI Holdings have announced the creation of a new company focused on investing in cryptocurrency companies.Called Digital Asset Joint Venture, this new investment company will have funds worth $100 million, which will be used to finance other companies and projects related to the crypto world, covering different sectors, from tokenization to DeFi, market infrastructure and compliance.
Standard Chartered has become a strong advocate of cryptocurrencies and their underlying technology, highlighting the potential of these innovations to transform markets.
In late October, the British bank joined the UDPN blockchain to explore stablecoin payments. It has also established a headquarters in the United Arab Emirates, from which it plans to offer crypto services to its clients, taking advantage of the favorable regulatory structure that this country offers for cryptoasset innovation.
Continue reading: Bitcoin price on the rise: The leading cryptocurrency exceeds $37.000
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