Hours after meeting with the SEC, BlackRock has submitted a raft of amendments to its Ethereum ETF to improve its offering to investors.

BlackRock has filed to amend its Spot Ethereum ETF to allow for a one-of-a-kind creation and redemption process.

The filing comes after a meeting with the US Securities and Exchange Commission (SEC) crypto task force and renewed institutional interest in Ethereum.

BlackRock pushes for type creation and redemption for Ethereum ETF.

Fund manager BlackRock is looking to amend key areas of its S-1 filing for its iShares Ethereum Trust ($ETHA).

According to an X post by Bloomberg analyst James Seifert, BlackRock's latest filing with the SEC is an attempt to authorize a creation and redemption of sorts for the Ethereum ETF space.

If approved, the initiative will allow authorized participants to exchange ETH for ETF shares during creation and redemption.

A key feature of BlackRock's filing is its intention to bypass the use of cash for the creation and redemption process.

"This post-effective amendment to Form S-1 is being filed by the Registrant No. 1 to disclose that the Trust may permit a creation and redemption process as an alternative to the Trust's current cash creation and redemption process," the filing read.

BlackRock's ETF will also offer authorized participants the benefit of sidestepping capital gains taxes because $ETH does not need to be sold for cash.

Additionally, the creation and redemption of types in the Ethereum ETF will improve tracking of the $ETH price while reducing trading fees.

BlackRock is also pushing to include references and information from its annual report in its registration statement, according to the filing.

The filing follows BlackRock's meeting with the SEC to discuss key topics revolving around staking tokenization and options on crypto ETPs.

Institutional Interest in Ethereum Spikes Amid Double-Digit ETH Rally

Barely hours after the Ethereum ETF amendment filing, BlackRock acquired 7,976 ETH for about $18.9 million, reaffirming its confidence in Ethereum.

Currently, the iShares Ethereum Trust holds over 1 million ETH with a total value of $2.9 billion, surpassed only by Grayscale's Ethereum Trust.

In the last 48 hours, London-based Abraxas Capital has moved 138,511 ETH from exchanges worth $333 million.

The recent rallying trend comes on the heels of the Ethereum wheel showing mixed behavior at the start of the $ETH rally.

The price of Ethereum is currently trading at $2,464, having gained 6.52% in a strong bullish display over the last 24 hours.

Weekly charts indicate further strong price performance with ETH up 34.97% and nearly 70% over the month.

Market analysis suggests that Ethereum could rise by 200% following the launch of ETH and SOL futures by Brazil's B3 stock exchange.

Other Ethereum ETF issuers are offloading their ETH holdings to reflect growing investor interest in the largest altcoin.

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