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 âSeed Capital Investor,â 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 âETHA.â
Bloomberg Analystâs Take:
Bloomberg ETF analyst Eric Balchunas considers this development a âgood sign.âHe believes that the ETF could be approved as early as late June or early July1.
BlackRockâs Success in Crypto:
BlackRockâs bitcoin ETF has already become the worldâs largest publicly traded bitcoin fund, surpassing Grayscale with nearly $20 billion in assets under management. The companyâs foray into the Ethereum market is eagerly anticipated by investors.
In summary, BlackRockâs 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! đ23
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.Â
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