Cboe BZX submits amendment application to US SEC, allowing 21Shares Ethereum ETF to be pledged

According to Golden Finance, the Cboe BZX exchange submitted a Form 19b-4 document on Wednesday afternoon, proposing to allow the 21Shares Core Ethereum Exchange Traded Fund (ETF) to pledge Ethereum, and is currently awaiting further action from the US Securities and Exchange Commission (SEC). According to the document, the exchange plans to modify some provisions of Eth ETP Amendment No. 2 to allow the Ethereum held by the trust to be pledged. Bloomberg ETF analyst James Seyfart pointed out that this is the first ETF to submit a pledge approval application to the SEC. Last year, the SEC approved the 21Shares Core Ethereum ETF, along with ETFs from institutions such as BlackRock and Fidelity. Previously, many companies removed pledge clauses from their registration statements before SEC approval. Under the leadership of former SEC Chairman Gary Gensler, the SEC has stated that Proof of Stake (PoS) tokens belong to securities. However, under the Trump administration, the SEC is expected to take a more friendly stance towards cryptocurrencies and has established a crypto working group with plans to classify some tokens as "non securities".