The SEC has postponed its decision on approving options for BlackRock's iShares Ethereum Trust ETF, citing the need for a more extended review period.
BlackRock and Nasdaq Proposal
In August last year, BlackRock and Nasdaq proposed a rule change that would allow trading options for the spot Ethereum ETF. The SEC must now decide whether these options can be approved by April 9.
Success of IBIT Options
Last September, the SEC approved options trading for BlackRock's spot Bitcoin ETF. These options were made available for trading in November and have been a significant success, rapidly increasing their market share. According to Volmex data, the open interest for IBIT options exceeded $13 billion, accounting for over 55% of Deribit's open interest. IBIT has become one of the most active ETF options markets, competing with products like the iShares 20+ Year Treasury Bond ETF.
Impressive Growth of ETHA
After a modest start, BlackRock's ETHA recorded an inflow of $10.6 million. Yesterday, it was the only spot Ethereum ETF product in the green. ETHA now has a total of $3.7 billion in assets, substantially outperforming several competing products.
The final SEC decision on BlackRock's Ethereum ETF options is expected in April. BlackRock's products continue to show significant market success, attracting both private and institutional investors.