BlackRock (NYSE: BLK), the largest asset manager globally, has made a significant move in the cryptocurrency sector by filing an S-1 form with the Securities and Exchange Commission (SEC) to launch a spot Ether (CRYPTO: ETH) exchange-traded fund (ETF).
This announcement led to an immediate market reaction, with the price of Ether surging nearly 2% to $2,080.
What Happened: BlackRock's intention to venture into the Ether ETF was further reinforced by the recent registration of "iShares Ethereum Trust" in Delaware. The iShares division, known for ETFs, is part of BlackRock’s wider investment management portfolio.
This move ...