Ethereum Spikes on BlackRock ETF Filing, “Heavily Institutional” Buying Sends Bitcoin Soaring
Bitcoin prices have exploded higher overnight, nearing $38,000, with the renewed bullish tone attributed to a combination of factors, including resurgent institutional interest, growing adoption, and a favourable macroeconomic climate.
Shortly after Bitcoin’s huge surge overnight, Ethereum started to spike, reversing recent weakness vs Bitcoin and extended that surge after the cash equity close…
The surge takes Ethereum to its highest since April, almost $2100…
With market participants pointing to BlackRock’s filing for an Ethereum Trust ETF…
💥💥💥 JUST IN: BlackRock iShares Ethereum Trust registered in Delaware!
— Crypto News Alerts 🔥🎙 (@CryptoNewsYes) November 9, 2023
"An ETH ETF will create an interesting arbitrage between proof-of-work (BTC) & proof-of-stake (ETH). Properly managed ETH ETF short positions will perpetually generate profits to roll into the BTC… pic.twitter.com/oJwELb8JIr
And later confirmation…
Key language in Nasdaq/iShares spot ether ETF filing…
— Nate Geraci (@NateGeraci) November 9, 2023
Grayscale court win + SEC approval of ether futures ETFs should = spot ether ETF approval https://t.co/IUO0wixNCR pic.twitter.com/TclQyOfWjx
