BlackRock and VanEck Submit Updated Ethereum Spot ETF Filings to Commence Trading Very Soon
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BlackRock and VanEck have amended its S-1 filing with the SEC for its Ethereum ETF. Erick Balchunas predicts the Ethereum ETFs could be approved by late June or early July. Asset management giant BlackRock has made a significant move in its bid to launch an Ethereum spot ETF. The firm has amended its S-1 filing with the U.S. Securities and Exchange Commission (SEC), signaling progress in the regulatory approval process. The amended S-1 filing from BlackRock disclosed information about its seed capital investor, which is essential for the fund to start trading. On May 21, a BlackRock affiliate firm committed to purchasing $10,000,000 in shares and took delivery of 400,000 shares at a per-share price of $25.00. This financial backing is critical for the ETF’s operational commencement. The ETF will trade under the ticker “ETHA.” On the same day the ETFs received approval, VanEck promptly submitted an amended S-1 form. Analysts Anticipate Ethereum ETF Approvals Bloomberg ETF analyst Eric Balchunas highlighted this as a positive sign, noting the possibility of seeing other filings progress soon. Balchunas said that he doubts there will be more adjustments to the comments by SEC, yet he underlined that the launch late in June is possible. He estimated the approval odds for around July 4, though he mentioned that an earlier approval remains a “long shot.” 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 Bloomberg ETF analyst James Seyffart echoed this optimism, interpreting BlackRock’s updated S-1 as a significant indicator that issuers and the SEC are actively working toward spot Ethereum ETF launches. This is almost certainly the engagement we were looking…
Filed under: News - @ June 2, 2024 3:06 am