BlackRock submits ETH-based options trading to SEC.

The asset giant BlackRock has submitted the options for its Ethereum spot ETF, ETHA, to the U.S. Securities and Exchange Commission (SEC). According to Bloomberg ETF analyst James Seyffart, the SEC's final decision on this may be made around April 9, 2025, and it also requires approval from the Office of the Comptroller of the Currency (OCC) and the Commodity Futures Trading Commission (CFTC). Source

Nasdaq and BlackRock's filing to add options on Ethereum ETFs has hit the SEC site. Final SEC decision on this from SEC likely to be around April 9th, 2025.

(SEC is not the only decision maker on adding options here. Also need signoff from OCC & CFTC) https://t.co/K4HunUPp7S pic.twitter.com/5kQH0mljTz

— James Seyffart (@JSeyff) August 6, 2024

Options Trading Based on ETHA

BlackRock's application this time is for a product that allows options trading on its Ethereum spot ETF ETHA. Most traditional financial stocks have options markets, which allow investors to make bullish or bearish bets on the underlying assets or hedge, thereby increasing market liquidity.

Coinbase Custody Trust Company, LLC is the custodian of the Ethereum held in trust and maintains the trust's custodial accounts; Coinbase serves as the primary broker for the trust and maintains a dedicated trading account for the trust; and The Bank of New York Mellon is the custodian of the trust's cash holdings and the trust's administrator. The exchange is Nasdaq.

Bloomberg ETF analyst James Seyffart pointed out that the SEC's final decision on this may be made around April 9, 2025. Not only the SEC, but this product also requires approval from the currency regulator OCC and the Commodity Futures Trading Commission CFTC.

ETHA Raises Over $800 Million Since Listing

Since BlackRock's Ethereum spot ETF ETHA was listed on 7/23, there was zero volume on the first day, with the rest being net inflows. Even in the market downturn over the next two days, there were net inflows of $47.09 million on 8/5 and $108 million on 8/6. The total cumulative funds raised have now reached $868 million. Due to the drop in Ethereum prices, the asset size is only $595 million, but the performance remains impressive.

As the world's largest asset management company, BlackRock's every move is carefully evaluated. The initial frenzy for Bitcoin spot ETF applications was also led by BlackRock, which ultimately succeeded and months later led to the successful listing of the Ethereum spot ETF.

Now, with BlackRock reapplying for options trading based on ETFs, it is believed that it will bring more trading opportunities and liquidity to the market.