According to Foresight News, the U.S. Securities and Exchange Commission (SEC) is seeking public comments on BlackRock’s revised Ethereum spot exchange-traded fund (ETF) proposal. In the revised proposal, BlackRock discussed the ETF creation and redemption process, saying that “baskets are issued or redeemed only in cash amounts determined by the trustee each day that Nasdaq is open for regular trading.”
This is different from the original proposal in November last year, which stated that the process would involve Ethereum. BlackRock submitted an application for an Ethereum spot ETF in November 2023 and named it iShares Ethereum Trust. In January of this year, the SEC postponed its decision on the proposal, and on April 19, Nasdaq revised the proposal.
