After several weeks of speculation following the registration of iShares Ethereum Trust in Delaware, BlackRock has submitted an S-1 prospectus to the SEC for the investment product.
This is the second exchange-traded fund (ETF) related to cryptocurrencies that the company aims to launch after the spot application for bitcoin ETF.
Last week, the largest asset manager registered a corporate entity named iShares Ethereum Trust in Delaware, indicating its intentions to apply for a spot ETF that tracks the performance of the second-largest cryptocurrency.
On November 16, BlackRock officially submitted the S-1 prospectus to the U.S. securities regulator.
As with the bitcoin application, which was submitted in June of this year, BlackRock has named Coinbase as the custodian to safeguard the ether.
The filing does not mention whether the trust will actively stake ether and distribute dividends to shareholders from the returns.
It is worth noting that the registration of the iShares Ethereum Trust last week had an immediate impact on the price of ether, which rose by $200 in hours. However, the largest altcoin is now trading below two thousand dollars.
It is also important to mention that while BlackRock has indeed applied for spot ETFs tracking bitcoin and ether, the company has denied recent rumors that it had such intentions for a spot ripple ETF.
This came after false news that BlackRock registered an XRP Trust in Delaware. The case has recently been handed over to local authorities.
