Financial services giant BlackRock filed with the U.S. Securities and Exchange Commission (SEC) to amend the ISHARES BITCOIN ETF (IBIT) and the Ishares Ethereum ETF (ETHA) as sources revealed on Tuesday. This is in a major milestone for the BlackRock Bitcoin ETF to make Crypto Derivatives Exchange Deribit the venue for major BTC options.
BlackRock moves to fix Bitcoin and Ethereum ETF
BlackRock’s iShares Bitcoin ETF (IBIT) and Ishares Ethereum ETF have undergone significant changes, according to a US SEC submission on September 29th.
NASDAQ proposes modifying the iShares Bitcoin Trust and the Ishares Ethereum Trust to allow IBIT and ETHA to be under general listing standards. Once approved, funds (ETFs) traded on the exchange will operate in accordance with general listing standards, rather than in the terms of the original filing.
The exchange also requires the SEC to waive the five-day advance notice period requirement under Rule 19b-4(f)(6)(iii). These amendments will take effect immediately upon submission, but NASDAQ specifies the proposed amendments to take effect in the first quarter of 2026.
Exchanges submitted to comply with the new listing rules for cryptographic ETFs
On Friday, CBOE BZX Exchange also submitted notice of submission with the SEC and immediate validity, suggesting to amend the loyal and wise origin Bitcoin funds, Vaneck Bitcoin ETF, 21Shares Ethereum ETF, Fidelity Ethereum Fund, and Vaneck Ethereum ETF.
This follows SEC approval of the general listing standards for Crypto ETFs, which are effective from October 1st. Under the new rules, exchanges of NASDAQ, NYSE, CBOE and others can list and trade product-based trust stocks of eligible Spot Commodities, including digital assets, without filing a 19B-4 form. This reduces the timeline for Crypto ETF approvals under the Securities Act of 1933 from 240 to 75 days.
Additionally, the SEC has withdrawn all delay notifications for Solana, XRP, HBAR, Litecoin and other cryptographic ETFs under general listing criteria. This shows progress in ETFS approval as the Crypto market awaits the first AltCoin ETF under the 1933 Act.
BlackRock Bitcoin ETF tops the BTC option’s delivery bit
The BlackRock Bitcoin ETF will become the largest platform for BTC options beyond DERIBIT, Bloomberg reported. Major milestones are now possible after the SEC approved the IBIT option earlier this year. The Crypto market is currently awaiting a decision to allow staining of Ethereum ETFS.
Following the expiration date of the $23 billion crypto option last Friday, IBIT’s BTC open interest registered with the NASDAQ reached nearly $38 billion compared to Deribit’s $32 billion. This reveals a paradigm shift in the crypto industry to attract large-scale adoption from Wall Street.
The BlackRock Bitcoin ETF currently manages $877.1 billion in assets, positioning it as the world’s largest Bitcoin ETF. BTC prices are currently trading above $114,100.