Key Takeaways:
- BlackRock’s Progress: BlackRock revised its Form S-1 for the iShares Ethereum Trust (ETHA) with the SEC, moving closer to launching U.S. spot Ether ETFs.
- Analysts’ Optimism: Bloomberg analysts noted positive momentum, with a potential launch by the end of June, although earlier approval is unlikely.
- Investment Details: A BlackRock affiliate invested $10 million, purchasing 400,000 shares at $25 each, and the ETF will trade under the ticker “ETHA”.
BlackRock has made significant progress towards launching U.S. spot Ether exchange-traded funds (ETFs) by revising its Form S-1 for the iShares Ethereum Trust (ETHA) with the SEC.
This update, filed on May 29, comes nearly a week after the SEC approved BlackRock’s 19b-4 filing, both of which are essential for the ETF to commence trading.
Good sign. Prob see rest roll in soon. Then prob one more round of fine-tune comments from Staff. End of June launch a legit possibility altho keeping my o/u date as July 4th https://t.co/WymshkTvat
— Eric Balchunas (@EricBalchunas) May 29, 2024
Analysts view this as a strong indicator that issuers and the SEC are moving closer to launching these ETFs.
Bloomberg ETF analysts Eric Balchunas and James Seyffart highlighted the positive momentum, with Balchunas suggesting that an end-of-June launch is possible, though an earlier approval remains unlikely.
BlackRock files amended S-1 registration statement for upcoming Ethereum ETF with more disclosures https://t.co/ajOC86nN5L
— The Block (@TheBlock__) May 29, 2024
BlackRock’s amended S-1 also revealed that a BlackRock affiliate invested $10 million, purchasing 400,000 shares at $25 each.
This is almost certainly the engagement we were looking for on the S-1’s following the 19b-4 approvals. Issuers and SEC are working towards spot Ethereum ETF launches. https://t.co/xj3oyZvZEA
— James Seyffart (@JSeyff) May 29, 2024
The ETF is set to be listed and traded under the ticker “ETHA”, showcasing a significant step forward in the cryptocurrency investment landscape.
About The Author
Fleming Airunugba, a seasoned Web3 and crypto content expert, leverages his deep understanding of blockchain technology to bring the latest and most impactful news to the crypto community.
With a knack for engaging storytelling and strategic content creation, Fleming is dedicated to educating and inspiring his audience with insightful analysis on cryptocurrencies, NFTs, and the future of digital finance.
Check Fleming out on: