After the US SEC took the first step for spot Ethereum ETFs, efforts continue to launch these investment products.
Finally, BlackRock, one of the world's largest asset management companies, updated its S-1 application for the existing ETH ETF, which gave the market hope. While BlackRock's move follows other applicants, market experts described this move as extremely important.
BlackRock made the necessary update for the launch of ETH ETF
In the application updated by BlackRock, it was promised that the ETH to be held in the investment product will not be used for PoS verification or any staking activity will be carried out for the purpose of generating income using ETH.
A similar update was also made by VanEck. Other applicants are expected to update their applications in the same way. Because the SEC does not favor the method of generating a second income through staking activity of assets held for the market launch of ETFs. Asset management companies are also taking quick action on this issue and being in a hurry to obtain final approval for ETFs.
Predictions continue regarding the launch of Spot ETH ETF
Speculation continues as to when spot Ethereum ETFs may begin trading. Bloomberg ETF expert James Seyffart expressed optimism about the approval and predicted that the launch could happen within a few weeks.
Bloomberg's other ETF analyst, Eric Balchunas, also remained optimistic, predicting the end of June or the first week of July as the launch time for Ethereum ETFs.
BlackRock's spot Bitcoin ETF continues to consolidate its leadership
BlackRock's spot Bitcoin ETF IBIT continues on its way after taking the lead from GBTC. 11 spot Bitcoin ETFs traded in the USA recorded a net inflow of $28.32 million yesterday. Thus, the funds extended their positive entry streak to 12 days.
According to SoSoValue data, IBIT maintained its dominance in the market while attracting $24.5 million in funding. GBTC had a net outflow of 31 million dollars. Thus, IBIT, which surpassed GBTC with its fund size on Tuesday, continued to widen the gap. FBTC, the third largest spot BTC ETF, saw a net inflow of $18 million yesterday.
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