The U.S. Securities and Exchange Commission (SEC) has confirmed receipt of amendments made by BlackRock, allowing investors to stake their assets in their largest Ethereum ETF.
Significance of SEC Acknowledgment
The acknowledgment from the SEC means that the securities watchdog has confirmed they have received certain amendments made by the ETF issuer. Typically, the SEC opens a public comment period allowing stakeholders to weigh in on the matter.
ETF Changes and Proposals
BlackRock, along with Nasdaq, submitted a 19b-4 rule change proposal aimed at allowing investors using the iShares Ethereum Trust (ETHA) to stake ETH with staking rewards treated as income to the fund.
Impact on Ethereum Price
ETHA is the largest Ethereum ETF and became the third-fastest fund to reach a $10 billion AUM milestone in less than a year after its launch. The last day with outflows was on July 2; since then, it has attracted nearly $4 billion in net inflows within a month. The price of ETH has surged significantly, increasing by over 50% in the past month.
The SEC's acknowledgment of BlackRock's filing opens up opportunities for investors, although final approval is still not guaranteed. The impact on the Ethereum market continues to be significant.
