BlackRock Invests in Ethereum with In-Kind Redemption Filing

BlackRock has filed an amendment to its S-1 registration for the iShares Ethereum Trust (ETHA), seeking to implement in-kind redemption of ETF shares for its ETH ETF. This means investors will now be able to directly exchange ETF shares for Ethereum, bypassing traditional cash transactions. BlackRock’s move brings their ETH holdings to over 1 million ETH and sees them adding $18.9 million worth of ETH to their existing Bitcoin trust which now stands at 614,639 BTC after a recent acquisition of 41,452 BTC within two weeks.