NASDAQ plans to allow iShares Ethereum Trust to subscribe and redeem in physical form

According to SEC documents, Nasdaq proposes to modify its rules to allow iShares Ethereum Trust to support physical purchases and redemptions of Ethereum, and to add Anchorage Digital as the custodian. The US Securities and Exchange Commission (SEC) is reviewing Nasdaq's application for rule changes. The change aims to improve the efficiency of ETF operations by allowing authorized participants to directly deliver or receive Ethereum instead of cash. The trust name is also proposed to be changed to iShares Ethereum Trust ETF to reflect consistency in the registration statement.