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SEC Delays Decision on BlackRock’s Ethereum ETF Options

The U.S. Securities and Exchange Commission (SEC) has extended its timeline for deciding on a proposed rule change that would allow Nasdaq ISE LLC to list and trade options on BlackRock’s iShares Ethereum Trust. Originally expected by September 26, the decision has now been pushed to November 10, 2024, giving the SEC additional time to evaluate this potential new offering in the Ethereum-linked options market.

BlackRock Ethereum ETF Options: A Closer Look

According to the SEC’s recent filing, the regulatory body needs more time to thoroughly examine Nasdaq ISE LLC’s proposal to amend its listing rules for including options on the BlackRock-managed iShares Ethereum Trust. This delay is part of the SEC’s careful approach to regulating new financial products, especially those tied to cryptocurrencies like Ethereum.

The postponement follows the SEC’s recent approval of options trading for BlackRock’s Bitcoin ETF. On September 20, the commission gave the green light for options on the iShares Bitcoin Trust to be traded on Nasdaq under the symbol IBIT.

Spot Ethereum ETF Market Faces Challenges

As the SEC deliberates on BlackRock’s Ethereum ETF options, the broader spot Ethereum ETF market has been experiencing a downturn. Recent data shows significant selling pressure, with the largest single-day outflow of $79 million since these products launched in July. Grayscale’s ETHE was particularly affected, with outflows exceeding $80 million.

Despite growing interest in crypto investment products overall, Ethereum ETFs have struggled to maintain consistent investor interest, especially when compared to the recent surge in Bitcoin ETF popularity. However, if the SEC approves options trading for BlackRock’s Ethereum ETF, it could potentially reinvigorate interest in Ethereum-related investment vehicles.

The crypto community eagerly awaits the SEC’s decision, which could have significant implications for the future of Ethereum-based financial products in the U.S. market. Stay tuned to CryptocurrencyNews.com for the latest updates on this developing story.



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