Nasdaq, BlackRock Seek Approval for Spot Ethereum ETF Options
BlackRock and Nasdaq on Tuesday filed with the SEC to introduce options for the iShares Ethereum Trust (ETHA), BlackRock’s spot Ethereum ETF.
Nasdaq’s proposed rule change is aimed solely at ETHA, the only Ether ETF listed on Nasdaq’s electronic exchange. Other Ether ETFs are listed on the New York Stock Exchange’s (NYSE) Arca or the Cboe.
This filing represents a significant milestone in the mainstream acceptance of Ether ETFs. Since their launch in July, these funds have garnered substantial investor interest, accumulating about $1.5b in net inflows.
An option is a financial contract that gives the holder the right, but not the obligation, to buy or sell an asset at a set price.
In the crypto market, Ether and Bitcoin options operate under the same principle. They enable investors to speculate on the cryptocurrencies’ price fluctuations without holding the actual digital currencies.
“The exchange believes that offering options on the Trust will benefit investors by providing them with an additional, relatively lower cost investing tool to gain exposure to spot ether as well as a hedging vehicle to meet their investment needs in connection with ether products and positions,” the filing read.
The public has a 21-day window to submit feedback on the proposed rule change. According to Bloomberg Intelligence analyst James Seyffart, the SEC is expected to make a final decision on the proposal around April 9, 2025.
Further, Nasdaq pointed out that it already offers options trading on commodity ETFs structured as trusts. These include BlackRock’s iShares COMEX Gold Trust and iShares Silver Trust.
Nasdaq and BlackRock's filing to add options on Ethereum ETFs has hit the SEC site. Final SEC decision on this from SEC likely to be around
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