SEC Seeks Public Opinion On Revised Ethereum ETF Proposal By BlackRock

According to Foresight News, the U.S. Securities and Exchange Commission (SEC) is soliciting public opinion on a revised proposal for an Ethereum spot exchange-traded fund (ETF) by BlackRock. In the revised proposal, BlackRock discusses the creation and redemption process of the ETF, stating that 'the basket is issued or redeemed only in the amount of cash determined by the trustee on each day of regular trading on NASDAQ'. This differs from the original proposal submitted in November last year, which stated that the process would involve Ethereum. BlackRock submitted an application for an Ethereum spot ETF in November 2023, naming it the iShares Ethereum Trust. In January of this year, the SEC postponed its decision on the proposal, and on April 19, NASDAQ made revisions to the proposal.