SEC on Ethereum ETF: The US Securities and Exchange Commission (SEC) has announced another extension in its evaluation of asset manager BlackRock's application for a spot Ethereum exchange-traded fund (ETF), as per a regulatory filing on Monday.

BlackRock initially submitted its application for the iShares Ethereum Trust in November last year, with plans for it to be listed on the Nasdaq if approved. Ethereum, the second-largest cryptocurrency by market capitalisation, is the focus of this ETF proposal.

BlackRock is one of the world's largest asset management firms. Founded in 1988, it operates globally and manages assets for institutional and individual investors across a wide range of investment products, including mutual funds, exchange-traded funds (ETFs), and other investment vehicles.

The iShares Ethereum Trust is an ETF proposed by BlackRock focused on Ethereum. If approved by regulatory authorities, this ETF would allow investors to gain exposure to Ethereum's price movements without directly owning the cryptocurrency. Instead, investors can purchase shares of the ETF, which represent ownership in the underlying Ethereum holdings held by the trust.

In January, the SEC postponed its decision on BlackRock's application following its approval of several bitcoin ETFs. The delay indicates the SEC's ongoing scrutiny and evaluation of ETF proposals in the cryptocurrency space.

(With Reuters inputs)