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Nasdaq has applied to the U.S. Securities and Exchange Commission (SEC) to offer options trading on BlackRock’s spot Ethereum ETF, iShares Ethereum Trust (ETHA). This move aims to make Ethereum investments more accessible in traditional financial markets. The SEC’s final decision is expected around April 9, 2025.
A New Tool for Ethereum Investments
BlackRock plans to offer options trading for its new spot Ethereum ETF, named iShares Ethereum Trust (ETHA). This application was submitted to the SEC via the Nasdaq International Securities Exchange on August 6. This move allows investors to invest in Ethereum without directly investing in ETH. Additionally, Coinbase will hold ETH assets, and Bank of New York Mellon will manage cash assets.
The options market allows investors to buy or sell an asset at a specific price before a certain date. Options are used to hedge against potential losses or speculate on the future price of an asset. This flexibility allows investors to decide whether to execute the transaction.
Nasdaq and BlackRock have significant experience in listing options on other commodity ETFs. With reliable products like iShares COMEX Gold Trust and iShares Silver Trust, these two giants are taking a big step by offering options on spot crypto ETFs. This step aims to bring crypto investments to a broader investor base.
SEC Decision Awaited
Bloomberg Intelligence ETF analyst James Seyffart noted that approvals from the Options Clearing Corporation (OCC) and the Commodity Futures Trading Commission (CFTC) are also required, in addition to the SEC’s decision. Seyffart stated that the SEC’s final decision is expected around April 9, 2025.
BlackRock is known as a leading issuer of spot Bitcoin and Ethereum ETFs in the U.S. According to SoSo Value data, BlackRock’s iShares Bitcoin Trust (IBIT) had $18.28 billion in net assets as of August 5, making it the largest spot Bitcoin ETF. As of the same date, iShares Ethereum Trust (ETHA) had $568.65 million in net assets, making it the third-largest spot Ethereum ETF in the U.S. market after Grayscale’s ETHE and Ethereum Trust.
This move by Nasdaq and BlackRock offers new opportunities for investors interested in crypto investments. Providing access to the crypto market through traditional financial instruments aims to offer investors a safer and more familiar investment environment. This development could be a significant milestone for Ethereum and the crypto market in general.
