Is there a glimmer of hope for encryption ETF progress? BlackRock meets with SEC group and submits revised versions of IBIT and ETHA.

The asset giant BlackRock ( has moved again! After meeting with the SEC's cryptocurrency working group, BlackRock submitted revised documents for the Ethereum ETF )ETHA( and Bitcoin ETF )IBIT(, adding considerable hope for the progress of crypto ETFs. Bloomberg ETF analysts expect the SEC to approve physically created/redeemed crypto ETFs this year.

BlackRock meets with SEC crypto task force

Asset giant BlackRock ) met with the U.S. Securities and Exchange Commission ( SEC) on 5/9 to discuss some important regulatory issues regarding digital assets. The main topics of the meeting included:

BlackRock Digital Asset Product Portfolio: An introduction to IBIT, ETHA, and the BlackRock USD Institutional Digital Liquidity Fund (BUIDL) market developments.

Staking (: Discuss how to handle staking mechanisms within the regulatory framework, including support for ETPs ) that have staking functionalities.

Asset Tokenization (Tokenization): Exploring how to promote the development of security tokenization within the framework of federal securities regulations.

Crypto Assets ETP approval standards: including specific standards for approving Crypto Assets ETPs, as well as a potential transitional regulatory framework for issuers.

Options for Crypto Assets ETP: Discuss the establishment of appropriate positions and exercise limit standards, while considering the liquidity thresholds of the underlying assets.

This meeting was attended by representatives from BlackRock's regulatory affairs, digital assets, and legal compliance experts.

BlackRock subsequently submitted amendment documents for ETHA and IBIT.

BlackRock subsequently updated its Ethereum ETF (ETHA) and Bitcoin ETF (IBIT) revised documents.

According to a tweet by Bloomberg analyst James Seyffart, the document mainly adds provisions for allowing physical creations/redemptions under the approval of the U.S. Securities and Exchange Commission. Bloomberg had previously anticipated that the SEC would approve this year.

NEW: Amended S-1 just dropped for BlackRock’s Ethereum ETF — $ETHA. Looks like the main change is added language around allowing for in-kind creation/redemption when approved by the SEC.

(@EricBalchunas & I expect SEC approval for in-kind at some point this year) pic.twitter.com/HWkTfrDNsJ

— James Seyffart (@JSeyff) May 9, 2025

In addition, its Bitcoin ETF IBIT has added some new content regarding quantum computing risks. At the beginning of this January, Nasdaq (Nasdaq) has also submitted documents hoping to allow BlackRock's Bitcoin spot ETF (IBIT) to conduct physical transactions, that is, the redemption and creation of Bitcoin.

The trading efficiency of ETFs created and redeemed with physical assets should theoretically be higher. Taking gold ETFs as an example, most issuers choose the physical model, which is relatively simple in process. If the conversion can be carried out smoothly, it should increase the efficiency of ETFs and save costs.

( Illustrated ETF | What is the difference between the cash model preferred by the SEC for ETFs and BlackRock's Bitcoin physical ETF? )

BlackRock takes action, is the new type of Crypto Assets ETF on the way?

As the world's largest asset management company, BlackRock has an asset management scale of up to 11.58 trillion dollars. The Bitcoin spot ETF IBIT has an asset scale of 62.9 billion dollars, while the Ethereum ETF ETHA has an asset scale of 2.6 billion dollars.

Several asset management companies initially submitted applications for Bitcoin spot ETFs and have struggled with the SEC for years without success. It was not until BlackRock's involvement that everything progressed smoothly and quickly. Now, BlackRock has once again stepped in, seemingly adding much hope for the advancement of crypto ETFs.

BlackRock is also planning to issue distributed ledger technology (DLT) shares through BNY Mellon, moving its $150 billion money market fund onto the blockchain, further implementing the application of tokenized assets.

( BlackRock is issuing coins? A $150 billion money market fund plans to use DLT and collaborate with BNY Mellon to launch tokenized shares )

This article discusses the progress of the encryption ETF showing signs of dawn? BlackRock meets with SEC team, submitting revised versions of IBIT and ETHA, first appeared in Chain News ABMedia.