The U.S. Securities and Exchange Commission (SEC) has officially accepted the review of BlackRock's proposal for staking in the Ethereum (ETH) spot ETF, significantly increasing the possibility of expanding institutional investor-driven Ethereum demand. Although approval is still a long way off, the SEC's acceptance of the filing signals a major turning point in the market.
BlackRock and Nasdaq have formally proposed to the SEC a structural change through the 'iShares Ethereum Trust (ETHA)', where investors can deposit their held Ethereum into the network and attribute the reward income to the fund. This proposal corresponds to a revision of SEC 19b-4 regulations and is expected to proceed with public and stakeholder opinion gathering procedures.
ETHA is currently the largest Ethereum ETF based on Assets Under Management (AUM), and has achieved the third-fastest record in industry history by surpassing $10 billion in less than a year. Except for a $46.9 million outflow on July 2nd, it has quickly recovered and recorded a net inflow of $4 billion in just one month.
With institutional funds flowing in massively, Ethereum's price has shown strong performance, rising over 50% in the past month. Compared to the early April low, it has risen more than 150% and is now approaching $4,000.
The SEC's 'document receipt' cannot be seen as a mere procedural progression. It is expected to be a touchstone for balancing regulation and innovation, as it marks the first instance of a regulatory authority publicly reviewing a method that incorporates staking, a core function, into the ETF structure. Attention is focused on what conclusion the SEC will reach and how the introduction of staking in Ethereum ETFs will set precedents and spread effects across the industry.
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