The Nasdaq International Securities Exchange has filed a proposal with the Securities and Exchange Commission to list and trade options on a trust managed by BlackRock.
The assets of the newly proposed iShares Ethereum Trust will consist solely of Ethereum, held by Coinbase, and cash, held by The Bank of New York Mellon, according to a filing on Tuesday.
The trust will not engage in Ethereum proof-of-stake validation or use its assets to earn additional income generated through staking, ensuring it remains strictly a passive investment vehicle, per the filing.
The move aims to broaden the range of investment tools for Ethereum and make crypto investments more accessible within traditional financial markets, Nasdaq said.
“Although the shares are not the exact equivalent of a direct investment in ether, they provide investors with an alternative method of achieving investment exposure to ether through the public securities market, which…
