Ethereum ETF Applications Update 🚀
BlackRock and Grayscale have filed amendments to their Ethereum exchange-traded fund (ETF) applications following a delay by the SEC. The amendments propose changes in the structure of the ETF applications to align with existing Bitcoin ETFs in the U.S. As the SEC has postponed its decision on various Ethereum ETF proposals, the crypto community eagerly anticipates the potential approval of these ETFs.
BlackRock’s Proposed Rule Change
Investment giant BlackRock has introduced a proposed rule change in its plan to list and trade shares in the iShares Ethereum Trust. The updated 19-b 4 filing suggests the creation and redemption of ETF shares in cash rather than in-kind, distinguishing it from the existing structure. Authorized participants will only transact in cash for creating or redeeming shares, excluding any direct involvement with Ethereum itself.
- BlackRock amends Ethereum ETF application
- Proposes cash-based creation and redemption
- Mirroring structure of Bitcoin ETFs
Grayscale’s Registration Statements
Grayscale has filed an S-3 registration statement to convert its Grayscale Ethereum Trust to a spot Ethereum ETF. The S-3 form allows for a faster registration process due to the trust’s prior SEC registration. Additionally, Grayscale has submitted a Form S-1 for a mini Ethereum ETF, signaling its commitment to providing diverse ETF offerings in the market.
- Grayscale converts Ethereum Trust to ETF
- Registers mini Ethereum ETF on NYSE Arca
- Expanding product portfolio
SEC’s Stance on Ethereum ETFs
Following the approval of spot Bitcoin ETFs, expectations for Ethereum ETF approval were high among market participants. However, the SEC’s delay in deciding on Ethereum ETF proposals has led to uncertainty in the industry. Analysts predict varying chances of approval for Ethereum ETFs, highlighting the evolving landscape of regulatory approval in the crypto space.
- SEC’s delayed decision on Ethereum ETFs
- Uncertainty in the market
- Analysts’ predictions on approval chances
Hot Take 🔥
The crypto community eagerly awaits the SEC’s decision on the proposed Ethereum ETFs by BlackRock and Grayscale. As regulatory uncertainty looms, market participants analyze the potential impact of ETF approvals on the broader crypto market. Stay tuned for updates on the evolving regulatory landscape and its implications for the cryptocurrency industry.
By
By
By
By
By