A U.S.-listed Ethereum exchange-traded fund will debut in March after asset management giant BlackRock filed an updated version of a key document required by the Securities and Exchange Commission (SEC) before a public offering.
BlackRock filed the revised S-8 registration statement on Wednesday, nearly 19 weeks after two ETH Etf's, including BlackRock's iShares #StartInvestingInCrypto Trust, took a huge leap forward after the SEC approved the related Form 1b-1. The move sparked optimism in the cryptocurrency market as a whole as it marked an unexpected turnaround for financial regulators.
The Form S-1 discloses that an "seed capital investor" has purchased the first shares for the proposed offering.
"In 2024/5/21, 'Seed Capital Investors,' an affiliate of Sponsor, purchased a seed capital basket of 400,000 shares at a price equivalent to 11 shares at 25.00," the revised form states. "The net asset value of the trust reached $BTC The world's largest asset management company also announced that the shares will be offered and traded under the ticker symbol "ETHA".
That's a good sign.
Bloomberg #ETF analyst James Seyffarth believes the market "almost certainly" should pay attention to the S-19 form because it shows that "issuers and the SEC are working to launch an Ethereum ETF" following last Thursday's b-4b-1 approval.
Eric Balchunas, another Bloomberg ETF analyst, called BlackRock's updated S-1 application filing "a good sign" in a May 29 post on the X website (aka Twitter).
There may be another round of "tweaking" of SEC staff comments, he continued, but "A launch at the end of month 6 [is] possible. Nevertheless, Balchunas supported the possibility of a May 4 approval, suggesting that early approval from America's leading financial interests "is out of the question.
However, industry experts believe Etf Eth will drive the price of ether to new all-time highs.
Read us at: Compass Investments
