BlackRock Files for In-Kind ETH ETF Redemptions, Adds $18.9 Million in Ethereum 💼
BlackRock has submitted an amendment to its S-1 registration for the iShares Ethereum Trust (ETHA), aiming to facilitate in-kind creation and redemption of ETF shares in its Ethereum ETF. This approach allows authorized participants to directly exchange ETF shares for Ethereum (ETH), eliminating the need for cash transactions.
The move signifies BlackRock's commitment to enhancing the utility and efficiency of its ETF offerings by incorporating such a mechanism. Additionally, the firm has increased its holdings by $18.9 million in Ethereum, reflecting ongoing confidence in the cryptocurrency's potential and bolstering its presence in the digital asset space.
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