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- 🌙 BlackRock's Ethereum ETF Plan Is Confirmed
🌙 BlackRock's Ethereum ETF Plan Is Confirmed
ETH soared 10% to near $2,100 after a Nasdaq filing confirmed BlackRock's plan to file for an ETH-based ETH.
Mike Gavela
November 09, 2023
Crypto Roundup - Nov 9
BlackRock, the world's largest asset manager, has confirmed its intentions to launch an Ethereum ETF, evident from a Nasdaq filing and the registration of "iShares Ethereum Trust" in Delaware. This significant move towards a mainstream financial product offering exposure to Ethereum is aligned with BlackRock's earlier interest in a Bitcoin ETF. Concurrently, Ethereum's price soared to a six-month high, crossing the $2,000 mark, largely driven by the market's reaction to BlackRock's ETF plans and professional traders' bullish bets on ETH derivatives. While Ethereum and Bitcoin prices surged, with ETH reaching nearly $2,100 and BTC touching $38,000, the broader altcoin market saw a downturn, with major tokens like XRP and DOGE falling by 6% to 7%. This shift is partially attributed to a risk-off sentiment spurred by the Fed's hints at interest rate hikes. Despite the derivatives market's enthusiasm, retail demand for Ethereum remains tepid, with no significant uptick in Google search interest or stablecoin demand, which raises questions about the rally's sustainability without broader consumer participation.
Top Stories:
BlackRock has filed for an Ethereum ETF, signaling increasing institutional interest in cryptocurrency.
Ethereum's price hits a six-month high, outperforming Bitcoin amid ETF excitement, while most altcoins falter.
Despite Ethereum's surge on ETF speculation, there's noticeable absence of retail demand, casting doubts on the rally's longevity.
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Spartan Capital has been with Pendle since the very beginning of our journey since the days of Pendle V1.
It's an honour to link hands with one of our longest supporters once more on our next leg of journey, as we strive to reshape the crypto landscape together 🤝
— Pendle (@pendle_fi)
11:28 AM • Nov 9, 2023
OTHER HEADLINES
CRYPTO TWITTER (X)
Blackrock just took the first steps to register a spot Ethereum ETF
this is gentlemen
— RYAN SΞAN ADAMS - rsa.eth (@RyanSAdams)
3:12 PM • Nov 9, 2023
Lot to learn from Solana's bear market marketing strategy.
1) Proliferated phrases like "chew glass" and "only possible on Solana"
2) Scaled events like Breakpoint and the Grizzly hackathons
3) Had @aeyakovenko and @rajgokal communicate honestly on pods and twitter after the… twitter.com/i/web/status/1…
— Yano 🟪 (@JasonYanowitz)
2:09 AM • Nov 9, 2023
New Research note from me today. We still believe 90% chance by Jan 10 for spot #Bitcoin ETF approvals. But if it comes earlier we are entering a window where a wave of approval orders for all the current applicants *COULD* occur
— James Seyffart (@JSeyff)
6:33 PM • Nov 8, 2023
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