BlackRock updates Ethereum ETF application to include "physical creation and redemption" and quantum computing risk disclosure.

[BlackRock Updates Ethereum ETF Application, Including "Physical Creation/Redemption" and Quantum Computing Risk Disclosure] Analyst James Seyffart stated that BlackRock has just submitted a revised S-1 document for its Ethereum Spot ETF — $ETHA, with the main change being the addition of the statement "allowing physical creation/redemption upon SEC approval." He and his colleague Eric Balchunas both expect the SEC to approve this mechanism at some point this year. Furthermore, he pointed out that this is the first Ethereum ETF application to propose a physical creation/redemption mechanism, with the final approval deadline around October 11, 2025. He also mentioned that BlackRock's Bitcoin ETF $IBIT has submitted revised documents, which already included similar physical subscription and redemption language in February, and this time added a description of "quantum computing risks" as part of standard risk disclosure. He emphasized: "These are just basic risk disclosures. They will list any potential issues... This is completely in line with regulations and totally reasonable."