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BlackRock, Nasdaq seek rule change to list options on spot ethereum ETFs

Published 08/06/2024, 07:25 PM
Updated 08/07/2024, 11:35 AM
© Reuters. FILE PHOTO: Samara Cohen, BlackRock's CIO of ETF and Index Investments stands near the Nasdaq building after attending the closing bell to celebrate the launch of the first U.S. spot Ethereum ETF at the Nasdaq MarketSite, at Times Square in New York City,

(Reuters) - BlackRock (NYSE:BLK) and exchange operator Nasdaq have proposed a rule change to list and trade options for the asset manager's spot ethereum exchange-traded fund, according to a regulatory filing on Tuesday.

In July, the U.S. Securities and Exchange Commission (SEC) approved exchange-traded funds tied to the price of ether from major firms, including Franklin Templeton, VanEck, Bitwise and 21Shares.

Options give holders the right to buy or sell an asset, such as a stock or exchange-traded product, at a pre-determined price by a set date.

"The exchange believes that offering options on the Trust will benefit investors by providing them with an additional, relatively lower cost investing tool to gain exposure to spot ether," the filing said.

© Reuters. FILE PHOTO: Samara Cohen, BlackRock's CIO of ETF and Index Investments stands near the Nasdaq building after attending the closing bell to celebrate the launch of the first U.S. spot Ethereum ETF at the Nasdaq MarketSite, at Times Square in New York City, U.S., July 25, 2024. REUTERS/Eduardo Munoz/File Photo

The SEC oversees technical rule changes that exchanges must make to list options.

The comments on the rule change proposal are due in 21 days.

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