The U.S. Securities and Exchange Commission (SEC) has announced an extension on its decision regarding BlackRock’s proposal to add staking to its iShares Ethereum Trust, with the new deadline set for October 30.
Details of BlackRock's Proposal
BlackRock, the world’s largest asset manager, is proposing a product that would allow investors to gain exposure to Ethereum while benefiting from staking rewards. The SEC stated that it required additional time to analyze the proposals and the related issues.
Other Ethereum ETFs Awaiting Decisions
This is not the first time the SEC has delayed such a decision. Filings like the 21Shares Ethereum ETF proposed by the Chicago Board Options Exchange are also facing similar situations. Key decisions on these funds are expected by the end of October.
Market Awaits Staking News
The anticipation of staking for Ethereum has already had an impact on its market price, which has seen significant increases in recent months. The SEC has previously clarified that staking, in itself, is not a security, which boosts confidence among supporters. A successful example is the REX-Osprey Solana ETF, which was the first fund to offer staking upon launch.
The impending decisions by the SEC regarding staking for Ethereum ETFs are significant for investors. The outcomes may have substantial impacts on the market and Ethereum's price dynamics.
