2023-11-10
On November 9, 2023, Blackrock filed spot Ethereum ETF on Nasdaq in “A proposedrule change to list and trade shares of the iShares Ethereum Trust (the"Trust")” under Nasdaq Rule 5711(d) ("Commodity-Based TrustShares") and submitted to the United States Securities and Exchange
Commission.
Ark Invest and 21Shares also filed for Ethereum
spot ETFs. Grayscale is trying to convert its Ethereum Trust to Ethereum
spot ETF.
SEC already classified Ethereum as a commodity. Ethereum
spot ETFs will make Ethereum become more regulated. When SEC approves Ethereum
spot ETFs, they can get access to stock market investors and institutional
investors.
Ethers have utility. They have been
using for payment in the crypto economy such as lending and borrowing on DeFi
platforms and NFT trading.
There are layer 2 blockchains that help
increase Ethereum speed and lower transaction fees such as Arbitrum, Optimism,
and Polygon zkEVM.
Ethereum’s fully diluted market cap is $254
billion. It ranks 2nd largest cryptocurrency by market cap.
