BREAKING: BlackRock Makes a Surprise Ethereum Move – Expected Feature May Come Soon

Nasdaq has requested permission to include Ethereum assets held by the iShares Ethereum Trust in its staking process in a new filing with the US Securities and Exchange Commission (SEC). The application was filed under Section 19(b)(1) of the Securities Exchange Act of 1934 and related regulations. The iShares Ethereum Trust is managed by iShares Delaware Trust Sponsor LLC, an indirect subsidiary of BlackRock. The ETF’s ETH holdings are held in custody by Coinbase Custody Trust Company, with Coinbase acting as the primary broker. The cash holdings are managed by Bank of New York Mellon. Related News: New York Stock Exchange-listed Giant Company Announces Buying a Large Amount of This Binance-Listed Altcoin Nasdaq’s proposed rule change would allow the ETF’s ETH holdings to be used in the Ethereum network’s proof-of-stake (PoS) mechanism, or staking. This would allow the ETF to generate passive income from its holdings. Currently, the Trust’s rules explicitly state that ETH holdings cannot be staking. Nasdaq requested that this provision be deleted and that regulations facilitating staking be enacted. Shares of the ETF began trading on Nasdaq on May 23, 2024, upon SEC approval. If approved, this new regulation could make it the first version of a spot Ethereum ETF product to generate income through staking. *This is not investment advice. Continue Reading: BREAKING: BlackRock Makes a Surprise Ethereum Move – Expected Feature May Come Soon

Source: BitcoinSistemi