BlackRock, the world’s largest asset manager, and exchange operator Nasdaq are making moves to list and trade options for BlackRock’s spot Ethereum exchange-traded fund (ETF). In a filing submitted on Tuesday to the U.S. Securities and Exchange Commission (SEC), BlackRock and Nasdaq ISE, LLC proposed a rule change to allow options trading on the iShares Ethereum Trust, which trades under the ticker ETHA.
According to the filing, Nasdaq believes that offering options on the Ethereum Trust will provide investors with a lower-cost tool for gaining exposure to spot ether. It also offers a hedging vehicle to manage investments in ether-related products and positions.
BlackRock’s Ethereum ETF, along with eight others, received approval in May and began trading last month. The SEC is now inviting public comments on the proposal, allowing a 21-day period for submissions. According to Bloomberg Intelligence analyst James Seyffart, the SEC is anticipated to make a final decision by early April 2025.