The U.S. Securities and Exchange Commission (SEC) has officially acknowledged an amendment to BlackRock’s proposed spot Ethereum Exchange Traded Fund (ETF), a significant development for the cryptocurrency industry. The proposed amendment involves adjusting BlackRock’s fund creation and redemption methods, originally launched in 2024. The initial plan allowed for in-kind redemption, but after scrutiny from the SEC, they were forced to implement the in-cash method instead. This adjustment is crucial for obtaining regulatory approval for the ETF. Blackrock has also been actively pursuing an in-kind creation and redemption process for their Ethereum Trust (ETHA), coinciding with discussions about partnering with Anchorage Digital as an Ethereum custodian. 💡