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As the cryptocurrency market continues to boom, major asset managers are taking a closer look and taking advantage of this situation. Asset management giant BlackRock stands out with launch of Ethereum ETF.
Is BlackRock’s Ethereum ETF Coming To Launch?
After gaining regulatory approval for its Bitcoin ETF earlier this year, BlackRock is now preparing to launch its Ethereum ETF. The SEC filing reveals that the manager has already invested $10 million in the initial purchase of Ether.
This initial investment of 400,000 shares at $25 each puts the net asset value of the Ethereum ETF at $10 million. The fund will be traded under the ETHA ticket with:
- The Bank of New York Mellon as Trustee,
- Coinbase, which holds the underlying ether.
Bloomberg analyst Eric Balchunas believes the launch could will take place from the end of June. This is based on an update to the S-1 filed by BlackRock.
The stunning success of BlackRock’s Bitcoin ETF
This future Ethereum ETF launch follows the success of BlackRock’s Bitcoin ETF. After just a few months of trading, this exchange-traded fund has achieved assets under management of nearly $20 billion. It thus becomes the largest Bitcoin fund in the world.
BlackRock’s Bitcoin ETF has amassed more than $16 billion in net inflows since its January launch. Large state pension funds have also invested in this product. A situation that demonstrates institutional interest in cryptocurrencies!
THE the success of the BlackRock ETF and the recent SEC approval of several Ethereum ETFs illustrates the gradual adoption of cryptocurrencies by mainstream finance. This trend is expected to continue as confidence between institutional investors and regulators strengthens.
More and more asset managers are looking to offer their clients exposure to digital assets such as Bitcoin and Ethereum ETFs. With its flagship products, BlackRock is positioning itself as a leader in this emerging asset class.
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My name is Ariela and I am 31 years old. I have been working in the field of web development for 7 years. I only discovered trading and cryptocurrencies a few years ago. But it’s the universe that interests me a lot. And the topics covered within the platform allow me to learn more. A singer in my spare time, I also have a great passion for music and reading (and animals!)
DISCLAIMER OF LIABILITY
The comments and opinions expressed in this article are solely those of the author and should not be considered investment advice. Before making any investment decision, do your own research.