BlackRock Amends Ethereum ETF Application: A Step Closer to Launch

On May 21, 2024, BlackRock filed an amended S-1 form for its proposed spot Ether (ETH) exchange-traded fund (ETF). This move follows the recent approval of several ether ETFs for listing in the U.S. by the Securities and Exchange Commission (SEC). Here are the key points:

Seed Capital Investor Purchase:

A “Seed Capital Investor,” affiliated with BlackRock, purchased 400,000 shares of the proposed ETF at a price of $25 per share.The net asset value of the trust was $10 million.

Ticker Symbol:

The ETF will list and trade under the ticker symbol “ETHA.”

Bloomberg Analyst’s Take:

Bloomberg ETF analyst Eric Balchunas considers this development a “good sign.”He believes that the ETF could be approved as early as late June or early July1.

BlackRock’s Success in Crypto:

BlackRock’s bitcoin ETF has already become the world’s largest publicly traded bitcoin fund, surpassing Grayscale with nearly $20 billion in assets under management. The company’s foray into the Ethereum market is eagerly anticipated by investors.

In summary, BlackRock’s amended S-1 filing brings us closer to the launch of an Ethereum ETF, potentially providing investors with a new way to gain exposure to this popular cryptocurrency. Keep an eye out for further updates as regulatory approval progresses! 🚀23

Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always conduct your own research and consult with a professional before making investment decisions. 

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