- BlackRock’s updated SEC filing for its iShares Ethereum Trust hints at the launch of the Ethereum ETF.
- The SEC has approved Form 19b-4 for eight Ethereum ETFs.
- Analysts foresee the potential approval of an Ethereum ETF by late June or early July.
BlackRock, the world’s largest asset manager, is getting closer to launching its Ethereum ETF, the iShares Ethereum Trust (ETHA). The company recently submitted an amended S-1 registration form to the U.S. Securities and Exchange Commission (SEC), following the regulator’s approval of Form 19b-4 for eight Ethereum ETFs.
The updated S-1 filing includes details about a seed capital investor and the purchase of 400,000 shares at $25 each, totaling a $10 million investment by a BlackRock affiliate on May 21. This move underscores BlackRock’s readiness to launch its Ethereum ETF, which will trade under the ticker, “ETHA”.
Expert Speculations on Ethereum ETF Launch
Leading experts in the crypto field have reacted positively to this announcement. Bloomberg ETF analyst Eric Balchunas expressed optimism, suggesting that further refinements might be needed but a launch by the end of June is plausible. He maintained that the chances of approval by July 4 are high, although an earlier date would be unlikely.
Similarly, analyst James Seyffart noted that the SEC’s review process for the amended filings could take several weeks, but there is a concerted effort to expedite the launch of Ethereum ETFs.
On the other hand, ARK Invest CEO Cathie Wood said on May 29 that the US SEC greenlit spot Ethereum ETFs for political reasons, related to the U.S. election issue.
In a contrasting move, Hashdex, one of the leading global asset managers recently withdrew its Ethereum ETF proposal shortly after its competitors received approval. The reason behind Hashdex’s decision remains unclear.
Despite these developments, the cryptocurrency market not displaying an immediate positive response. At the time of writing, Ethereum was trading at $3,777, reflecting a 2.5% decline over the past 24 hours, with daily trading volume down by 9.8%. Nevertheless, Ethereum has experienced a significant annual growth of 99.5%.
