ETH pumps from $1,920 to $2,120 in 10 hours on ETF news

We just saw a massive pump on Ethereum from $1,920. It's currently sitting at $2,130+

The last time we saw it at this price was back in May 2022. It briefly touched $2,100 in April of this year. ETH has been lagging behind Bitcoin and Solana for a while. The reason for the pump? Well, mainly driven by the recent ETF news; general market uptrend.

Ethereum ETF

Initially reported at 7PM GST 9th November 2023 by SummersThing, a iShares Ethereum Trust was registered in Delaware. "For context, BlackRock's iShares Bitcoin Trust was registered in a similar manner 7 days before they filed the ETF application with the SEC. Details below."

BlackRock's recent move to create an Ethereum ETF marks a significant deepening of its investment in the digital currency space, underscoring its growing embrace of crypto assets. The proposed ETF, which is awaiting regulatory green light, is set to be listed on Nasdaq, with digital currency exchange Coinbase appointed to safeguard the Ethereum holdings. This development is a continuation of BlackRock's foray into cryptocurrency funds, coming on the heels of its Bitcoin ETF attempt. Additionally, BlackRock has formed a strategic alliance with Coinbase for market oversight, a move designed to smooth over any potential regulatory hurdles related to surveillance-sharing protocols.

Confirmed by tier10k, the Blackrock ETH ETF was confirmed in a Nasdaq filing, posted 1:25AM GST. You can view the listing rule change here: