Ethereum

Bitcoin ETF

Bitcoin

BlackRock

BlackRock has amended its spot Ethereum (ETH) exchange-traded fund (ETF) filing, revealing critical details about the proposed product.
<h2 id="blackrock-changes-ethereum-etf-application-bloomberg-s-balchunas-predicts-launch-by-june">BlackRock Changes Ethereum ETF Application; Bloomberg's Balchunas Predicts Launch by June</h2>
The updated form S-1 recently filed disclosed that a 'Seed Capital Investor' purchased 400,000 shares of the ETF, taking a significant step towards its launch.
The amended document states that on May 21, 2024, Seed Capital Investor, an affiliate of BlackRock's sponsor, purchased the initial shares at $25 per share, with a total net asset value of $10 million.
This initial investment is a strong indication of confidence in the ETF, which will trade under the symbol “ETHA” following regulatory approval.
BlackRock's updated filing offers flexibility to investors by clarifying that assets held in the ETF can be redeemed for cash or Ethereum.
Commenting on the development, Bloomberg analyst Eric Balchunas called the updated S-1 a “good sign” and suggested a launch by the end of June was a “legitimate possibility.”
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This update comes shortly after the Securities and Exchange Commission (SEC) approved several ether ETFs for listing in the US, a move that created a positive sentiment in the broader cryptocurrency market.
BlackRock's success with its Bitcoin ETF iShares Bitcoin Trust (IBIT) sets a promising precedent for its Ethereum counterpart. As of Tuesday, IBIT has surpassed Grayscale to become the world's largest publicly traded Bitcoin fund, with nearly $20 billion in assets under management.
Since its launch in January, IBIT has generated net inflows of over $16 billion, attracting significant investments from major state pension funds.
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/bloomberg-analyst-eric-balchunas-announces-the-launch-date-of-approved-ethereum-etfs/" rel="noopener noreferrer nofollow">Bloomberg Analyst Eric Balchunas Announces the Launch Date of Approved Ethereum ETFs!</a>

Bloomberg Analyst Eric Balchunas Announces the Launch Date of Approved Ethereum ETFs!

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