Last week, BlackRock, the world's largest asset manager, filed an application for a spot Ether (ETH) exchange-traded fund (ETF) with the SEC, sparking a rally in the crypto market. This is the second time BlackRock's ETF application has boosted the market, with the first being for a spot Bitcoin (BTC) ETF.
While many expect a BTC ETF approval by Jan. 10, concerns remain about the approval of an Ether ETF due to Ethereum's status as a commodity or security.