BlackRock, the world's largest asset manager, is reportedly increasingly confident that the US Securities and Exchange Commission (SEC) will approve the Bitcoin Exchange Traded Fund (ETF) by January, according to insiders.
The news was first reported by Fox Business senior correspondent Charles Gasparino.
In another development today, BlackRock registered an iShares Ethereum Trust in Delaware. This development was interpreted as BlackRock applying for an Ethereum spot ETF.
However, it is important to note that the SEC has not yet made an official statement regarding BlackRock's Bitcoin ETF application.
With the development, the ETH price rose 7% on Thursday, surpassing $2,000 for the first time since April. BTC price saw a similar rise when asset managers started applying to launch ETFs this summer.
However, the US Securities and Exchange Commission still has not approved a Bitcoin ETF. If the SEC allows Bitcoin ETFs, ETH funds will likely be next.
*This is not investment advice.