Ethereum Soars to 6-Month High as BlackRock Pursues Ethereum ETF

The price of Ethereum (ETH) surged by 8% to break the $2,000 barrier, reaching its highest level in six months, following news of BlackRock registering the iShares Ethereum Trust in Delaware. This sparked speculation about a potential Ether spot ETF filing by the $9 trillion asset manager. However, with no official statement from BlackRock, investors may have jumped the gun. Professional traders placed bullish bets on ETH using derivatives, while retail indicators suggest a lack of demand for cryptocurrencies. The rally in ETH price and the anticipation of a spot ETF approval have raised concerns and put the $2,000 support level to the test.