The US Securities and Exchange Commission (SEC) has opened the public comment period on recent modifications to BlackRock's proposed Ethereum spot exchange-traded fund (ETF).
This request comes after Nasdaq submitted an updated proposal on April 19, refining previous submissions to better align with regulatory expectations.
BlackRock's Ethereum spot ETF under analysis
Called the iShares Ethereum Trust, the BlackRock ETF aims to accurately reflect the price of Ethereum. Initially presented in November 2023, the ETF proposal has undergone modifications to its structure, particularly with regard to its creation and redemption processes.
Unlike its original version, which involved direct exchanges with Ethereum, the revised proposal suggests a cash-based transaction model. This shift to a cash-back strategy reflects a cautious regulatory approach, reminiscent of debates around spot Bitcoin ETFs last year.
