PANews reported on May 22 that according to SEC documents, Nasdaq proposed to amend the rules to allow iShares Ethereum Trust to support physical Ethereum subscription and redemption, and to add Anchorage Digital as a custodian. The U.S. Securities and Exchange Commission (SEC) is reviewing Nasdaq's application for rule changes.

The change is intended to improve the efficiency of ETF operations by allowing authorized participants to directly deliver or receive Ethereum instead of cash. The name of the trust is also proposed to be changed to iShares Ethereum Trust ETF to reflect the consistency of the registration statement.