Ether surpassed the $2,000 mark on Thursday for the first time since April, following BlackRock's initial steps towards filing for an ether ETF. The surge in ether's price, up nearly 7.48% at $2,037.61, coincided with Bitcoin rising 2.67% to $36,574.83, reaching its highest level since May 2022 at $37,970.
Delaware's Division of Corporations revealed the registration of iShares Ethereum Trust on Thursday, mirroring the earlier notice for iShares Bitcoin Trust on June 8, a week before BlackRock's Bitcoin ETF filing. Despite inquiries, BlackRock remained silent on the matter. The anticipation of ETF approval contributed to positive market sentiment, triggering a surge in crypto prices after Bitcoin's rise caused short liquidations.
Clara Medalie, head of research at Kaiko, expressed optimism, stating that ETF news provided relief amid a challenging year for crypto markets. However, except for ether, crypto prices retreated midday. Ryan Rasmussen from Bitwise Asset Management noted increased leverage and open interest during the climb to $38,000, followed by a swift contraction on the pullback, signaling potential volatility.
Bitcoin witnessed $134.41 million in short liquidations and $41.12 million in long liquidations in the past 24 hours, as reported by CoinGlass. Other cryptocurrencies, influenced by Bitcoin's movement, experienced fluctuations. Solana, a strong performer this year, gained 2.69%, while FTT, tied to the defunct FTX, spiked 51% after SEC chair Gary Gensler's comments on a potential revival.
In equities, Coinbase and Microstrategy shares rose 5.1% and 4.1%, respectively. Bitcoin miners Marathon Digital increased by 8%, while Riot remained flat after both stocks retraced double-digit gains.