BlackRock has submitted an updated application for its Ethereum spot exchange-traded fund (ETF), ETHA. This request allows for in-kind redemption of ETF shares, meaning investors can now exchange their holdings for the underlying assets like Ether instead of using cash. Other firms like Invesco Galaxy, VanEck, WisdomTree, and 21Shares have also applied for the same amendment. The SEC has yet to rule on these requests but a decision is expected this year. This change aims to increase efficiency in the crypto ETF market and boost liquidity. Analysts believe it would benefit institutional investors who rely less on cash-based exchanges, although retail investors are not directly affected. BlackRock’s Ethereum product update also includes information about quantum computing risks for Bitcoin’s network.