Ethereum’s (ETH) price jumped yesterday and today after asset management giant BlackRock revealed plans to launch an ETF that holds the cryptocurrency. The news, which broke on Thursday, propelled ETH to its highest levels since April, exceeding $2,100 and rising about 3% from pre-announcement levels.
The filing, submitted by BlackRock to Nasdaq where it hopes to list the ETF, signals a deepening commitment to cryptocurrencies by the world’s largest asset manager. While the product still requires regulatory approval, the move was hailed by Ethereum supporters as validation of the blockchain network’s growing mainstream acceptance.
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