Here’s When BlackRock’s Spot Ethereum ETF Could Launch After Updated S-1 Filing

BlackRock has filed a revised registration statement for its proposed spot ETF. The updated S-1 filing also includes details about the company's primary capital investor.

Now, analysts suggest that US exchange-traded funds (ETFs) could launch by late June.

BlackRock discloses seed capital investor information

The world's largest asset manager Presenter An amended S-1 registration statement comes about a week after the SEC approved Forms 19b-4 for eight Ethereum ETFs, including the proposed iShares Ethereum Trust. Both registrations need approval before the ETF can start trading.

In the updated update, BlackRock revealed information about its seed capital investor, who committed to purchasing $10 million worth of shares on May 21, 2024. The investor eventually received 400,000 shares at $25.00 per share. The asset manager also said the shares will be listed and traded under the ticker symbol “ETHA.”

Eric Balchunas provided insights into this development, expressing optimism about its importance. He expected others to follow soon, likely accompanied by another round of careful feedback from employees. While Balchunas suggested a launch at the end of June is possible, he stressed higher approval odds around July 4th, considering early approval a “remote possibility.”

good mark. Maybe we'll see the rest of the roll soon. Then do another round of careful feedback from employees. An end of June release is a legitimate possibility while keeping my 4th of July release date https://t.co/WymshkTvat

– Eric Balchunas (@EricBalchunas) May 29, 2024

Bloomberg ETF Analyst James Seyphart Notice BlackRock's S-1 update is “almost certainly the buzz we were looking for in S-1s following 19b-4 approvals. Issuers and the SEC are working on the immediate launch of Ethereum ETFs.”

Hashdex withdraws Ethereum spot ETF proposal

This development comes on the same day that the Hashdex file was recently introduced Withdraw Its proposal for an Ethereum spot ETF came a day after its rivals, including BlackRock and seven other issuers, received approval for it.

No information was provided regarding the reasons for Hashdex's decision or whether it plans to resubmit its proposal. According to its initial filing in September 2023, Hashdex's proposal for a spot Ethereum ETF combines spot Ether holdings and Ether futures within the same product to reduce potential manipulation risks.

Hashdex also aims for its spot ETF to reflect daily changes in the Nasdaq Ether reference price to address regulatory concerns about market manipulation.

Competitors like Fidelity, ARK 21Shares, and Franklin Templeton have focused solely on Ether ETFs, and have made late adjustments such as removing support for ETH in response to SEC comments.