Deep dive into this investigation into recent news around Blackrock and Grayscale Ethereum ETF applications – discover the latest from the Securities and Exchange Commission (SEC.)

January ushered in the Bitcoin ETF era, with BlackRock amassing a hefty 273,892.57 BTC stash for their IShares Bitcoin Trust at an eye-popping $18.18 bn.

This blockbuster debut got investors itching for an Ethereum ETF. But, true to form, the SEC just hit the snooze pushing Ethereum ETFs further back.

In this article, we’ll tell you when the BlackRock ETF is coming and what exactly happened to HBAR BlackRock this week.

Initially slated for an April 24 verdict on ETH ETFs, BlackRock and Grayscale’s S-1 application to morph its ETH Trust into a spot ETH exchange-traded product now has until June 23 to woo or win SEC’s approval.

The SEC unveiled qualms with the proposals this week, zeroing in on share creation and redemption mechanics for the ETFs.

BlackRock Ethereum ETF Impact on Ether (& HBAR BlackRock Deal)

BlackRock, the behemoth with $10.5 trillion assets under management, doesn’t always get the SEC’s celebrity treatment.

After filing an S-1 application for a spot ETH ETF last November, BlackRock was forced to amend its focus on share creation and redemption mechanisms.

Many investors predict an Ethereum ETF will be bigger for crypto than Bitcoin as it opens the floodgates for many top protocols to get one.

Amidst the uncertainty surrounding ETH ETFs, BlackRock’s Ishares Bitcoin Trust (IBIT) shines as a beacon of success, boasting 70 days of uninterrupted inflows.

This remarkable streak catapults IBIT to the forefront of the U.S. spot ETF landscape, nestling it firmly among the top 10 ETFs for daily inflow streaks.

Ethereum Latest Price Action After Fake HBAR BlackRock

A fake HBAR BlackRock RWA story shook the crypto world last night.

Like wildfire, fake news of an HBAR Blackrock RWA partnership sent the HBAR token into a frenzy, doubling its value overnight. By daybreak, the frenzy cooled but left HBAR perched 43.8% higher, basking in the afterglow.

As a response to this price action, HBAR’s competitor, Ethereum, has been following along with the 20-day SMA, which recently acted as a support level at $3,270. If the price stays above this line, it’ll be a positive sign for things to come.

(ETHUSDT)

The delays in SEC decisions have cast a shadow of suspense over the future of ETH ETFs, with many interpreting this hesitancy as an ominous sign. Fake HBAR BlackRock stories add to the case that crypto is still the wild west.

However, Grayscale and BlackRock’s previous legal victory against the SEC over its Bitcoin ETF application sparks a glimmer of hope for a favorable outcome come June.

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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.