According to The Block, asset management company BlackRock has submitted a revised S-1 registration statement for its proposed Ethereum spot ETF. In the revised filing, BlackRock disclosed information about its seed capital investors. The related document stated, “On May 21, 2024, the seed capital investors, who are affiliates of the sponsor, purchased Seed Creation Baskets totaling 400,000 shares at a price of $25.00 per share.” The asset management company also stated that these shares will be listed for trading under the ticker symbol “ETHA”.
After the approval of the 19b-4 proposals submitted by Cboe, NYSE Arca, and Nasdaq with the U.S. Securities and Exchange Commission (SEC) last week, investors still need to wait for the approval of the S-1 filing submitted by the fund issuer before trading the Ethereum spot ETF can commence.
Eric Balchunas, an ETF analyst at Bloomberg, stated on the X platform that BlackRock’s submission of the revised S-1 is a “good sign” and that we might see other revisions soon, followed by a round of minor adjustments from the staff. Balchunas also believes that a listing by the end of June is a reasonable possibility, although he still expects the listing date to be July 4th.
According to previous reports from Zombit, Discus Fish, the founder of digital asset custody solution provider Cobo, predicted that, in the best-case scenario, the S-1 filing for the Ethereum spot ETF could be approved in early June, with trading commencing in mid-June. The research team at investment bank TD Cowen also stated that, following the approval of the Ethereum spot ETF, a fund product containing a basket of cryptocurrencies could be launched within the next year.
