1 month ago
BlackRock and Nasdaq made a determination contiguous to adhd options to the plus manager’s spot Ethereum (ETH) exchange-traded money (ETF) iShares Ethereum Trust (ETHA), according to a filing with the US Securities and Exchange Commission (SEC).
According to the filing:
“In particular, the Exchange believes that the connection to database and commercialized options connected the Trust will region impediments to and cleanable the mechanics of a escaped and unfastened marketplace and a nationalist marketplace strategy and, successful general, support investors due to the fact that offering options connected the Trust volition supply investors with a greater accidental to recognize the benefits of utilizing options connected an ETF based connected spot ether, including outgo efficiencies and accrued hedging strategies.”
Additionally, Nasdaq mentioned that it already listed options connected different commodity ETFs structured arsenic trusts, mentioning BlackRock products arsenic examples, specified arsenic the iShares COMEX Gold Trust and the iShares Silver Trust.
Bloomberg ETF expert James Seyffart shared connected X (formerly Twitter) that the SEC has 21 days to supply comments connected the matter. Nevertheless, helium said the last deadline for a regulator determination is “likely to beryllium around” April 9, 2025.
Notably, the SEC is not the lone regulator that needs to o.k. this associated determination by Nasdaq and BlackRock. As Seyffart highlighted, the Office of the Comptroller of the Currency (OCC) and the Commodity Futures Trading Commission (CFTC) besides request to o.k. the requirement.
ETHA’s rising dominance
BlackRock’s Ethereum ETF has been connected a crescent question successful inflows. Since the motorboat of the spot Ethereum ETFs successful the US connected July 23, ETHA dominance has tripled from 3% to 9%. According to DefiLlama, ETHA’s assets nether absorption (AUM) beryllium astatine implicit $521 million.
However, Grayscale’s spot converted into ETF, ETHE, inactive holds a ample pb implicit the different funds. ETHE’s AUM is $4.77 billion, astir 9 times the size of ETHA.
Nevertheless, the aforesaid question happened aft the motorboat of the spot Bitcoin ETFs successful the US, ending up with BlackRock’s IBIT gradually increasing and taking the pb from Grayscale’s GBTC.
The station BlackRock, Nasdaq taxable filing to present options for spot Ethereum ETFs appeared archetypal connected CryptoSlate.
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