BlackRock Officially Files Prospectus for iShares Ethereum Trust ETF with SEC
After weeks of speculation following the registration of the iShares Ethereum Trust in Delaware, BlackRock has officially submitted the S-1 prospectus for the product to the SEC. This marks the asset management giant's second foray into cryptocurrency-related exchange-traded funds, following its earlier application for a spot Bitcoin ETF. The filing, made today, designates Coinbase as the Custodian for the underlying ETH, mirroring BlackRock's approach in its Bitcoin ETF application filed in June. The prospectus does not clarify whether the Trust will actively stake ETH or distribute dividends to shareholders from the yield.
The registration of the iShares Ethereum Trust last week had an immediate impact on ETH's price, causing a $200 surge within hours. However, the largest altcoin has since settled at just under $2,100 after a broader market recovery in the past 24 hours.
It is noteworthy that despite filing for spot ETFs tracking BTC and ETH, BlackRock has refuted recent rumors about intentions for a spot Ripple (XRP) ETF. Reports emerged suggesting BlackRock had registered an XRP Trust in Delaware, but the company has denied such plans, and the matter is now under local authorities' scrutiny.