The SEC is seeking comments on BlackRock's revised Ethereum spot ETF proposal

ChainCatcher news, according to The Block, the U.S. Securities and Exchange Commission (SEC) is requesting public comments on the revised Ethereum spot exchange-traded fund (ETF) proposal from the world's largest asset management company, BlackRock.

BlackRock submitted its Ethereum spot ETF application in November 2023, naming it the iShares Ethereum Trust, aimed at "reflecting the overall performance of the Ethereum price." In January of this year, the SEC postponed its decision on the proposal, and on April 19, Nasdaq revised the proposal.

In a document released by the SEC on Tuesday, it stated, "The Commission is issuing this notice to solicit comments from interested parties on the proposed rule change." Comments will be published on the SEC website, with a deadline of 21 days from now.

It is reported that in the revised proposal, the exchange discussed the creation and redemption process of the ETF, stating that "the basket is issued or redeemed only for the cash amount determined by the trustee on each day that Nasdaq is open for regular trading." This differs from the original proposal submitted last November, which stated that the process would involve Ethereum.