Blackrock’s spot Ethereum ETF application goes to the SEC
Blackrock’s big Ethereum plan
Interestingly, the predicted development has not had a major impact on the price of Ethereum.
According to CMC, at press time,
ETH was trading at $2069.45 with a market cap of over $248 billion. The past hour chart showed gains by just over 1 percent, while the 7-day chart registered a massive uptrend of over 8 percent.
Blackrock’s influence on the crypto market
Notably, Blackrock has been credited for reviving the interest in the spot ETF market. This year, the investment management giant was the first to file for a spot Bitcoin ETF. The move was quickly replicated with several other notable contenders in the ETF market.
