In a remarkable turn of events, the price of Ethereum (ETH) has shattered the $2,100 barrier, marking a milestone not seen since April. Currently riding a wave of enthusiasm, ETH has surged more than 11% in the past 24 hours, settling at an impressive $2,130.
This sudden upswing in ETH value comes hot on the heels of some promising news in the crypto sphere, particularly involving BlackRock. The financial giant’s Ether ETF filing, recently registered in the state of Delaware, has sent ripples across the market. Shortly after this filing, an official disclosure from Nasdaq solidified BlackRock’s commitment to a spot Ether ETF.
The official filing provides key insights, confirming that BlackRock intends to list its iShares Ethereum Trust on Nasdaq after the necessary regulatory approvals. Following the success of its spot Bitcoin ETF, BlackRock’s move into the Ether space holds the potential to draw significant inflow from the traditional finance market.
The impact of this surge isn’t confined to the Ethereum market alone; it has significantly deviated from the usual correlation with Bitcoin prices. In the past 24 hours, while Bitcoin experienced fluctuations ranging from above $37,800 to nearly $36,900, Ethereum has managed to sustain its gains above the $2,100 mark. This divergence hints at Ethereum’s growing independence and strength in the ever-evolving crypto landscape.