Ethereum

Billion

The SEC wants to hear from the public about BlackRock’s updated <a href="https://listingcenter.nasdaq.com/assets/rulebook/nasdaq/filings/SR-NASDAQ-2023-045_Amendment_1.pdf" target="_blank" rel="noopener" data-wpel-link="external">request</a> to start an Ether spot exchange-traded fund (ETF). Nasdaq <a href="https://listingcenter.nasdaq.com/assets/rulebook/nasdaq/filings/SR-NASDAQ-2023-045_Amendment_1.pdf" target="_blank" rel="noopener" data-wpel-link="external">changed </a>the proposal so now the ETF trades in cash instead of swapping assets. The SEC affirmed its intention of requesting comments on the rule change laid out, covering items like the corresponding guidelines that were highlighted. 
BlackRock’s updated filing details a departure from the initial plan, opting for a cash redemption model instead of involving ether directly. This shift mirrors discussions held with the SEC last year regarding spot bitcoin ETFs.&nbsp; 
Notably, the absence of staking provisions in the amendment diverges from approaches taken by other firms like Fidelity and Grayscale. 
Despite various firms, including BlackRock and Fidelity, pursuing spot Ethereum ETFs, optimism for their approval has reduced. Bloomberg ETF analyst Eric Balchunas revised his estimation of approval likelihood down to 25% from 70% for May. 
Additionally, the SEC’s extension of decision timelines for other proposals further emphasizes the regulatory challenges ahead. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 <a href="https://www.cryptotimes.io/2024/04/24/sec-seeks-5-3-billion-from-terraform-labs-and-do-kwon/" data-wpel-link="internal">Also read: </a><a href="https://www.cryptotimes.io/2024/04/24/sec-seeks-5-3-billion-from-terraform-labs-and-do-kwon/">SEC Seeks $5.3 Billion from Terraform Labs and Do Kwon</a> 
</blockquote>

SEC Seeks Public Input on BlackRock’s Ether ETF Proposal

The Crypto Times

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