US Ether (ETH) ETFs could Launch by June's End, Predicts Analysts after BlackRock Filing Update
Summary:
According to analysts, the launch of Ether (ETH) exchange-traded funds (ETFs) in the United States could occur by the end of June, following an update from BlackRock to a crucial filing. The Form S-1 for iShares Ethereum Trust (ETHA) was revised by BlackRock on May 29, suggesting that the regulator's approval for the ETF to commence trading could be imminent. A related S-1 amendment clarified details about the seed capital investor, an affiliate firm of BlackRock, which agreed to purchase $10 million in shares on May 21, 2024, along with 400,000 shares at a per-share price of $25.
According to analysts, Ether (ETH) exchange-traded funds (ETFs) in the United States have a solid chance of being launched by the end of June following a key filing update from BlackRock. The Form S-1 of the iShares Ethereum Trust (ETHA) by BlackRock was revised on May 29, about a week after the regulator approved its 19b-4 filing. Both of these approvals are required for the ETF to begin trading operations. Bloomberg ETF analyst, Eric Balchunas, suggested that this could indicate the rest will swiftly follow. He did, however, predict another round of fine tuning SEC remarks, and maintained the chances of approval by the 4th of July, though earlier would be difficult. Another Bloomberg analyst, James Seyffart, believed the updated S-1 from BlackRock is probably the interaction they had been waiting for, demonstrating that issuers and SEC are on course towards launching spot Ethereum ETFs. Further details in BlackRock's revised S-1 included details about the seed capital investor – essentially the group that will fund the ETF to kickstart operations. On May 21, the investor, a BlackRock affiliate company, agreed to buy $10 million worth of shares on May 21, 2024, and also committed to acquiring 400,000 shares at $25 each. The ETF intends to list and trade under the ticker "ETHA".
Published At
5/30/2024 2:39:15 AM
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