According to a report by 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 relevant document stated, “On May 21, 2024, 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 U.S. Securities and Exchange Commission (SEC) approved the 19b-4 proposals submitted by Cboe, NYSE Arca, and Nasdaq last week, investors still need to wait for the S-1 filings submitted by fund issuers to be approved before trading the Ethereum spot ETF can begin.
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 there may soon be other revisions followed by a round of fine-tuning opinions from staff. Balchunas also believes that a listing at the end of June is a reasonable possibility, although he still expects the listing date to be July 4.
According to a previous report by Zombit, Discus Fish, the founder of digital asset custody solution provider Cobo, predicted that the S-1 filing for the Ethereum spot ETF could be approved as early as the beginning of June, with trading starting in mid-June. The research team at investment bank TD Cowen also stated that after the approval of the Ethereum spot ETF, a fund product containing a basket of cryptocurrencies may be launched within the next year.
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