BlackRock files update for Ethereum spot ETF! Is it expected to be available in early July?

BlackRock filed an amended S-1 registration statement nearly a week after the U.S. Securities and Exchange Commission (SEC) approved Form 19b-4 for eight ethereum ETFs. Because the issuer still needs approval of its S-1 statement before it can start listing and trading. According to estimates by Bloomberg ETF analyst Eric Balchunas, the Ethereum spot ETF is likely to be officially listed in early July.

BlackRock ETHA

BlackRock’s Ethereum spot ETF (iShares Etherum Trust) has submitted an updated S-1 registration statement and is expected to be listed and traded on Nasdaq. The stock code is "ETHA". The trustee is BlackRock Fund Advisors, the Delaware trustee is Wilmington Trust, the ether custodian is Coinbase Custody Trust Company, LLC, and the cash custodian and trust manager is The Bank of New York Mellon.

Authorized Participants will only deliver cash to create shares and receive only cash when redeeming shares. Authorized participants currently identified include Capital Markets Corp., Jane Street Capital, LLC, Macquarie Capital (USA) Inc. and Virtu Americas LLC.

As of May 21, 2024, the date the Seed Capital Investors purchased the Seed Creation Basket, the Trust had a net asset value of $10,000,000 and a net asset value of $25.

Neither the Trust, the Sponsor, the Ethereum Custodian, or anyone else associated with the Trust will directly or indirectly participate in staking activities.

Ethereum ETF may be officially launched in early July?

Bloomberg ETF analyst James Seyffart believes that the official launch should be a few weeks away, but it has now been a week. However, he also added that the usual situation is several months.

Another analyst, Eric Balchunas, predicted that it would be launched at the end of June, but he kept the date until July 4. Regarding BlackRock's S-1 updated form, Balchunas said that it has not announced the fee rate charged, so it is not the final version.

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