In a move that’s shaking up the digital asset world, financial giant BlackRock has officially filed for a new Ethereum-based trust, signaling deeper institutional interest in the second-largest cryptocurrency by market cap. The filing, submitted to the U.S. Securities and Exchange Commission (SEC) earlier this week, positions BlackRock to offer a spot Ethereum ETF—pending regulatory approval.
This development follows BlackRock’s successful launch of its Bitcoin spot ETF earlier this year, which saw billions in inflows within the first month. Industry insiders view the Ethereum trust as part of a broader strategy by Wall Street firms to tap into the growing demand for regulated crypto investment vehicles, particularly from high-net-worth and institutional clients.
Ethereum’s price reacted immediately, surging over 8% in the hours following the news. The token is now trading above $3,800, with bullish momentum building. Analysts suggest that the move could legitimize Ethereum further in traditional financial markets and potentially pave the way for other institutions to follow suit.
Larry Fink, BlackRock’s CEO, has notably shifted his stance on digital assets over the past few years. Once skeptical, Fink now describes crypto as a “modern alternative to traditional stores of value,” and his firm’s recent filings only reinforce that evolution.
Crypto investors in Los Angeles and beyond are watching closely. If the SEC greenlights the Ethereum trust, it would be a landmark moment—not just for Ethereum, but for the future of decentralized finance as a whole.