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

Suehyeon Lee

Summary

The US SEC has delayed its decision on approving BlackRock's proposal to allow in-kind redemptions for the Ethereum (ETH) spot ETF (ETHA).
The SEC announced that the review period for the in-kind redemption proposal for BlackRock ETHA, submitted by Nasdaq, has been extended.
Currently, BlackRock's Bitcoin (BTC) spot ETF (IBIT) is also awaiting a decision for approval of the same method.

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.

ETH

Suehyeon Lee

shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.

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

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