BlackRock Files Application for Spot Ether ETF

BlackRock (BLK), the world’s largest asset manager, has filed an S-1 form with the U.S. Securities and Exchange Commission to issue a spot ether [ETH] exchange-traded fund.

The price of ether jumped nearly 2% to $2,080 on the news.

BlackRock’s plans for the ETF were confirmed with the registration of an entity called “iShares Ethereum Trust” in Delaware last week. The asset manager’s ETF division is called iShares.

Crypto prices have been responding swiftly to ETF-related updates, particularly after court rulings against the SEC’s rejection of spot crypto ETF applications in the last few months improved market hopes for approval. A spoof ETF application referencing [XRP] sent the token rallying 10% before the news was shut down by BlackRock.

BlackRock is already seeking to list a bitcoin ETF that could open up average investors’ access to the crypto dramatically. The asset manager’s CEO, Larry Fink, has also done a complete u-turn on crypto, recently expressing support for the sector.

UPDATE (Nov. 16, 11:50 UTC): Adds detail throughout.