According to a report by “The Block,” asset management company BlackRock has submitted a revised S-1 registration statement for its proposed Ether spot ETF.
In the amended filing, BlackRock disclosed information about its seed funding investors. The relevant document stated, “On May 21, 2024, seed funding investors, namely affiliates of the sponsor, purchased Seed Creation Baskets totaling 400,000 shares at a price of $25.00 per share.” The asset management company also indicated that these shares will be listed for trading under the ticker symbol “ETHA.”
Following the approval of the 19b-4 proposals submitted by Cboe, NYSE Arca, and Nasdaq exchanges by the U.S. Securities and Exchange Commission (SEC) last week, investors are still required to wait for the approval of the S-1 filing submitted by the fund issuer before trading the Ether spot ETF can commence.
Bloomberg ETF analyst Eric Balchunas stated on the X platform that BlackRock’s submission of the revised S-1 is a “positive sign,” and there may soon be further amendments, followed by a round of minor adjustments from the staff. Balchunas also believes that a listing by the end of June is a reasonable possibility, although he still expects the listing date to be July 4th.
According to previous reports by Zombit, co-founder Discus Fish of digital asset custody solution provider Cobo predicted that, in the best-case scenario, the S-1 filing for the Ether spot ETF could be approved in early June, with trading starting in mid-June. The research team at investment bank TD Cowen also stated that following the approval of the Ether spot ETF, a fund product containing a basket of cryptocurrencies may be launched within the next year.