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BlackRock takes initial steps toward an Ethereum ETF. BlackRock’s move signals the growing institutional interest in cryptocurrency investments. The SEC’s cautious stance on crypto ETFs presents regulatory challenges despite increasing industry enthusiasm. On Thursday, the website for Delaware’s Division of Corporations revealed the registration of an “iShares Ethereum Trust.” This move closely mirrors the steps taken by BlackRock in June when the company filed for a Bitcoin ETF, with a similar notice for the “iShares Bitcoin Trust.”  BlackRock has made first step towards filing for a spot Ether ETF. I just confirmed on the website myself. Nice catch by @SummersThings https://t.co/mLKIhKdiI6 — Eric Balchunas (@EricBalchunas) November 9, 2023 The iShares product, managed by BlackRock, holds a dominant position in the exchange-traded funds sector, boasting more than $2.3 trillion in assets under manageme...

Grayscale Bags New Crypto Victory This Grayscale ruling marked a second landslide for the cryptocurrency industry against the markets regulator following Ripple’s victory back in July. According to some analysts led by Gautam Chhugani, the ruling “likely clears the path for a spot bitcoin ETF,” and increases the chances that the SEC might approve all the current applications from BlackRock, Fidelity, WisdomTree and others together. advertisement However, Grayscale has found itself in the never-ending contest of the Exchange Traded Products (ETP) industry over fees. The current form of the Grayscale ETF carries a 2% fee, a peg the company may find tough to sustain if it will stay competitive.  Looking at other U.S.-listed ETFs that have an average of 0.54% or other globally-listed crypto exchange-traded products with a 1.48% fee, the Grayscale product fee can be judged to be considerably high.  Michael Sonnenshein, Grayscale...

The appeals court rejected the SEC’s decision to stop the conversion of the company’s Bitcoin Trust product into an exchange-traded fund (ETF), following a reevaluation of its initial proposal. advertisement Will BTC Price Climb to $30k or Drop To $25k Crypto participants in the US and the world at large continue to wait with bated breath for the SEC to approve the first spot Bitcoin ETF. ETFs carry a lot of weight when it comes to the mainstream adoption of cryptocurrencies. They are a conduit for conventional investors to dip their feet in the crypto verse, without the need to hold the underlying digital asset like BTC. Despite Grayscale’s victory, the road to the first approval of a spot ETF is very uncertain and remains at the mercy of the SEC, which is expected to decide on seven more proposals whose deadlines come in a week. 99.99999% of the world doesn't know that the SEC has to decide on 7 BTC ETFs within the next 3 days: ...