🔴🔴🔴Ethereum ETF Approval Expectations🔴🔴🔴

If ETH gets approved, will it be bad news? Historically, when all the good news is out, it’s often time to sell. However, this largely depends on the institutional strength behind the buying. Will we see a sell-off followed by a rally like the last major ETF, or will the price surge first before taking a hit?

Progress of the Ethereum ETF Launch

On July 2, 2024, BlackRock submitted an amended S-1 registration statement, revealing details about seed fund investors. The document indicates that on May 21, 2024, seed relief fund investors purchased 400,000 shares of the seed creation basket at $25 per share. These shares will be listed and traded under the ticker "ETHA". The U.S. Securities and Exchange Commission (SEC) recently initiated a dialogue with the issuer regarding the S-1 form, a process expected to span several weeks.

Key Points

BlackRock's Submission: BlackRock has submitted an amended S-1 registration statement.

-Seed Fund Investment: Seed fund investors have acquired 400,000 shares of the seed creation basket.

Ticker "ETHA": These shares will be traded under the ticker "ETHA".

SEC Dialogue: The SEC has started discussions with the issuer, expected to continue for several weeks.

The Ethereum ETF is on the horizon. BlackRock has made significant strides, and the SEC's approval process is underway, with an anticipated duration of several weeks.

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