Major cryptocurrencies experienced a significant surge on Sunday evening, and the rally has continued from Thursday after reports of BlackRock Inc (NASDAQ:BLK), the world’s top asset manager, revealed it is planning to create an exchange-traded fund (ETF) with a focus on purchasing ETH.
What Happened: BlackRock is increasing its commitment to cryptocurrencies by announcing its intention to create an ETF that holds Ethereum (ETH).
As a result, the price of ETH surged to its highest level of the day, reaching nearly $2,100 on Friday and experiencing a 3% uptick from before the filing was made public. Although the price did retreat by half of its initial gain, it still remains above $2,000.
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Top Gainer (24 Hour)
Cryptocurrency
Gains +/-
Price (Recorded 9:30 p.m. EDT)
Celestia
+28.94%
$3.97
Avalanche
+15.77%
$16.97
THOR chain
+15.17%
$4.65
The global crypto market cap currently stands at $1.37 trillion, reflecting an increase of 3.03% in the past 24 hours.
U.S. stock futures experienced a slight dip on Sunday evening following Moody’s Investors Service’s decision to revise the country’s credit rating outlook from stable to negative. The futures for the Dow Jones Industrial Average decreased by 54 points, equivalent to a 0.1% drop. Similarly, the futures linked to the ...