The U.S. Securities and Exchange Commission (SEC) is currently seeking public feedback on amendments made to BlackRock’s proposed spot Ethereum exchange-traded fund (ETF), as reported by Celebrity Beauty Buzz. BlackRock, the largest asset manager globally, initially filed for an Ethereum ETF in November 2023 under the name iShares Ethereum Trust.
The decision on BlackRock’s spot Ethereum ETF was postponed by the SEC in January, with Nasdaq subsequently submitting a revision to the proposal on April 19. Comments on the updated rule change are due within 21 days and will be available for viewing on the SEC’s website.
The latest amendment in BlackRock’s filing outlined changes to the creation and redemption process of the ETF, indicating a shift towards utilizing cash as opposed to ether. Notably, staking was not addressed in BlackRock’s revised proposal, a feature that other firms such as Fidelity and Grayscale have included in their spot Ethereum applications.
While reputable companies like Fidelity and BlackRock have submitted applications for spot ether ETFs, optimism regarding SEC approval has waned. An ETF analyst assessed the likelihood of approval for a spot Ethereum ETF by May at only 25%. Furthermore, the SEC has delayed its decision-making timeline on proposals from Franklin Templeton and Grayscale until June.
For the latest updates on BlackRock’s spot Ethereum ETF and other prominent firms’ applications for similar products, stay tuned to Celebrity Beauty Buzz for further developments on this evolving story.
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