BlackRock Amends Bitcoin and Ethereum ETFs Following SEC Changes
- BlackRock has amended its Bitcoin ETF (IBIT) and Ethereum ETF (ETHA), with amendments effective immediately upon filing.
- The SEC approved new Generic Listing Standards for crypto ETFs on October 1, allowing exchanges like Nasdaq to list commodity-based trust shares without a lengthy approval process.
- The approval timeline for crypto ETFs has been reduced from up to 240 days to just 75 days under the Securities Act of 1933.
- BlackRock’s Bitcoin ETF now manages $87.71 billion in assets, making it the largest Bitcoin ETF globally.
- BTC is currently trading above $114,100, with BlackRock’s ETF surpassing Deribit as the largest platform for BTC options.
These amendments align with recent SEC changes that streamline the listing process for crypto ETFs and indicate progress in regulatory approvals within the cryptocurrency market.
As BlackRock’s Bitcoin ETF leads with $87.71 billion in assets, the crypto market anticipates further developments regarding altcoin ETFs and staking permissions on spot Ethereum ETFs. (Source)
