ETH ETF June Launch? BlackRock Updates S-1 Form for Spot Ether ETF

BlackRock’s recent update to its Form S-1 for its iShares Ethereum Trust (ETHA) has sparked excitement in the cryptocurrency community, with analysts predicting a potential late June launch for U.S. spot Ether (ETH) exchange-traded funds (ETFs).

The updated filing, which revealed details about the ETF’s seed capital investor and the purchase of $10 million worth of shares, is seen as a crucial step towards approval and subsequent trading. The Securities and Exchange Commission (SEC) had already approved BlackRock’s 19b-4 filing, indicating progress in the engagement between issuers and the regulator.

Analysts from Bloomberg are optimistic about the development, with Eric Balchunas suggesting an end-of-June launch as a realistic possibility. The reintroduction of in-kind creations and redemptions in the filing also opens up the potential for crypto transactions among authorized participants, although approval is not guaranteed.

The approval of spot Ethereum ETFs is expected to drive the price of ETH to new highs, as some view it as a Wall Street bet on the growth of Web3. However, concerns about potential price pressure on ETH due to the Grayscale Ethereum Trust (ETHE) have also been raised, with analysts predicting average daily outflows of around $110 million for several weeks.

The recent approval of Ethereum ETFs has paved the way for more crypto investment products, according to research from TD Cowen’s Washington Research Group. The approval potentially confirms Ether’s status as a non-security, according to industry experts.

Overall, the prospect of U.S. spot Ether ETFs launching by late June has generated excitement and anticipation within the cryptocurrency community, as the market eagerly awaits further developments in this space.