Financial services giant BlackRock filed with the U.S. Securities and Exchange Commission (SEC) to amend its iShares Bitcoin ETF (IBIT) and iShares Ethereum ETF (ETHA), as sources revealed on Tuesday. This comes amid a major milestone as BlackRock Bitcoin ETF surpassed crypto derivatives exchange Deribit to become the leading BTC options venue.
BlackRock Moves to Amend its Bitcoin and Ethereum ETFs
BlackRock’s iShares Bitcoin ETF (IBIT) and iShares Ethereum ETF to undergo significant changes, according to a filing with the U.S. SEC on September 29.
BlackRock Amends Bitcoin ETF (IBIT), Ethereum ETF (ETHA). Source: US SECNasdaq proposes to amend the iShares Bitcoin Trust and the iShares Ethereum Trust to permit IBIT and ETHA to come under the generic listing standards. Upon approval, the exchange-traded funds (ETFs) will operate in compliance with the generic listing standards instead of the terms in the original filing.
The exchange also requests the SEC to waive the 5-day prior notice period requirement under Rule 19b-4(f)(6)(iii). While these amendments are effective immediately upon filing, Nasdaq designates the proposed amendments to take effect in Q1 2026.
Exchanges Filing to Comply with New Listing Rules for Crypto ETFs
On Friday, CBOE BZX Exchange also submitted a notice of filing and immediate effectiveness with the SEC, proposing to amend the Fidelity Wise Origin Bitcoin Fund, VanEck Bitcoin ETF, 21Shares Ethereum ETF, Fidelity Ethereum Fund, and the VanEck Ethereum ETF.
This comes following the SEC’s approval of the Generic Listing Standards for crypto ETFs, effective from October 1. Under the new rule, exchanges such as Nasdaq, NYSE, and Cboe can now list and trade commodity-based trust shares of eligible spot commodities, including digital assets, without submitting a 19b-4 form. This reduces the crypto ETF approval timeline from 240 days to 75 days under the Securities Act of 1933.
In addition, the SEC has withdrawn all delay notices for Solana, XRP, HBAR, Litecoin, and other crypto ETFs under the generic listing standards. This indicates progress in ETFs approval as the crypto market awaits the first altcoin ETF under the 1933 Act.
BlackRock Bitcoin ETF Tops Deribit in BTC Options
BlackRock Bitcoin ETF surpassed Deribit to become the largest platform for BTC options, Bloomberg reported. The major milestone became possible after the SEC approved options on IBIT earlier this year. The crypto market now awaits a decision to permit staking on spot Ethereum ETFs.
Following last Friday’s $23 billion crypto options expiry, BTC open interest on the Nasdaq-listed IBIT reached nearly $38 billion as compared to $32 billion on Deribit. This reveals a paradigm shift in the crypto industry as it attracts massive adoption from Wall Street.
BlackRock Bitcoin ETF currently manages $87.71 billion in assets, positioning it as the world’s largest Bitcoin ETF. BTC price currently trades above $114,100.
Source: https://coingape.com/blackrock-amends-bitcoin-etf-ibit-ether-etf-etha-amid-new-milestone/
