tl;dr
BlackRock's iShares unit has filed with the U.S. SEC for a spot ethereum exchange-traded fund. The iShares Ethereum Trust was formed on Nov. 9 to own ether transferred to the Trust in exchange for Shares issued by the Trust, according to the filing made late Wednesday. In June, BlackRock had filed f...
BlackRock's iShares unit has filed with the U.S. SEC for a spot ethereum exchange-traded fund. The iShares Ethereum Trust was formed on Nov. 9 to own ether transferred to the Trust in exchange for Shares issued by the Trust, according to the filing made late Wednesday. In June, BlackRock had filed for a spot bitcoin ETF, but several prospective bitcoin ETFs are still awaiting SEC approval.
Coinbase CustodyTrust is the custodian for the proposed trust's ether holdings, and the trust's reference rate will be the CME CF Ether-Dollar reference rate produced by CF Benchmarks, which is part of Kraken. As a result of this news, ether rose 1.9% on Thursday to $2,052, while bitcoin climbed 2.9% to ~$37.2K.
More about BlackRock Inc
BlackRock Inc is a leading American multinational investment management corporation based in New York City. With a market capitalization of $105.45 billion and a P/E ratio of 30.4, the company has shown a strong performance in the security brokers, dealers & flotation companies sector. The stock is currently trading at $761.69, with a 52-week range of $461.31 to $823.88. The market sentiment towards BlackRock Inc appears positive, with a price/sales ratio of 0.307 and a price/book ratio of 0.152, indicating potential growth and value for investors.
More about Coinbase Global Inc
Key financial metrics for Coinbase Global Inc include a market capitalization of $23,481,995,000 and a revenue of $2,627,473,000. The company had a net income margin of -3.2% and an earnings per share of $3.27, with a price-to-earnings ratio of 88.29. Stock performance has been volatile with a decrease of 0.28%. Market sentiment towards the company appears relatively stable.