The U.S. SEC asked for public comments on BlackRock's revised Ethereum spot ETF proposal. BlackRock filed an Ethereum spot ETF application in November 2023 and named it iShares Ethereum Trust. In January of this year, the SEC postponed its resolution on the proposal; thereafter, on April 19, Nasdaq revised the proposal.
"The Commission is issuing this notice to solicit comments from interested parties on the revised proposed rule changes," the SEC said in a filing on Tuesday. "Comments will be posted on the SEC website and the deadline is 21 days later."
In the revised proposal, the exchange discussed the ETF creation and redemption process, saying that "the issuance or redemption of baskets is conditional only on the exchange of cash amounts determined by the trustee each day that Nasdaq is open for regular trading." This is different from the initial proposal in November last year, which stated that the process would involve Ethereum.
In addition, there is no mention of staking in BlackRock's latest revised proposal. Other companies, such as Fidelity and Grayscale, have changed their spot Ethereum applications to include staking clauses. Grayscale also proposed a process involving the creation and redemption of cash. (The Block)