US SEC Extends Review Period for BlackRock Ethereum Spot ETF Redemption Proposal

The US Securities and Exchange Commission (SEC) has delayed its decision on approving BlackRock's proposal to allow in-kind redemptions for its Ethereum (ETH) spot ETF (ETHA).

On the 10th (local time), Crypto Briefing reported that "the SEC has extended the review period for the in-kind redemption proposal for BlackRock ETHA submitted by Nasdaq."

If this in-kind redemption method is approved, authorized participants (AP) will be able to directly deposit Ethereum with the ETF issuer to receive new shares of the ETF or redeem shares to receive ETH in return. Currently, BlackRock’s Bitcoin (BTC) spot ETF (IBIT) is also awaiting approval for the same method.