Sound the prelude to listing! BlackRock Ethereum Spot ETF receives $10 million in seed funding

The U.S. Securities and Exchange Commission (SEC) last week approved eight Ethereum spot ETFs to be listed on the stock exchange, but they have not yet been released because the ETF issuer’s registration statement is still under review. trade. To this end, BlackRock has submitted a revised registration statement for its Ethereum spot ETF, taking another step towards listing.

According to the S-1 registration statement filed on May 29, BlackRock’s “iShares Ethereum Trust” will trade on the Nasdaq exchange under the trading symbol “ETHA” Listed and traded.

BlackRock then revealed that the seed fund investor (also an affiliate of BlackRock) had purchased $10 million worth of ETHA on May 21 and sold it at $25 per share that day. 400,000 shares of ETHA were delivered at a price of .

The so-called "seed fund" refers to banks and securities companies investing in the purchase of constituent stocks (such as Ethereum) in exchange for ETF shares that can be traded in the open market on the first day of listing, allowing the ETF to have a Sufficient initial capital is one of the steps in preparing a new ETF for listing.

In response to the latest developments in the Ethereum spot ETF, Bloomberg ETF analyst Eric Balchunas wrote that this is a "good sign" and expects several other issuers to also update their registration statements: There may be more It will receive another round of fine-tuning comments from SEC staff. While I expect the Ethereum Spot ETF to be available on July 4th, there is a reasonable possibility that it will debut in late June.

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