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Asset management giant BlackRock registered to create an ethereum trust, a potential first step toward asking regulators to approve an exchange-traded fund tied to ether, the second-largest digital token. Earlier this year, BlackRock registered a bitcoin trust in the same manner and a week later filed an application with the SEC to launch a spot bitcoin ETF.
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"To date, roughly a dozen ETF providers have filed to create spot bitcoin ETFs, or convert existing products into spot ETFs, helping fuel the recent rally in the cryptocurrency."
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