Ethereum

BlackRock

Eric Balchunas, a senior Bloomberg ETF analyst, has predicted that the launch of spot Ethereum ETFs could occur by late June.
The latest forecast follows BlackRock’s recent <a href="https://www.sec.gov/Archives/edgar/data/2000638/000143774924018610/iset20240522_s1a.htm" target="_blank" rel="noopener noreferrer nofollow">amendment </a>to its Form S-1 filing for the iShares Ethereum Trust, submitted to the Securities and Exchange Commission (SEC) on May 29.
This update came nearly a week after the SEC approved BlackRock’s <a href="https://crypto.news/ethereum-etf-applicants-submit-19b-4-forms/" rel="noopener noreferrer nofollow">19b-4 filing</a>, both essential steps for the ETF to commence trading.
“Good sign. [Probably] see rest roll in soon,” Balchunas stated in a May 29 X post.
Balchunas indicated that there might be another round to “fine tune” SEC comments, but he considers an “end of June launch [a] legit possibility.” However, he maintained his approval odds for around July 4, noting that an earlier approval would be a “long shot.”
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 Good sign. Prob see rest roll in soon. Then prob one more round of fine-tune comments from Staff. End of June launch a legit possibility altho keeping my o/u date as July 4th <a href="https://t.co/WymshkTvat" target="_blank" rel="noopener noreferrer nofollow">https://t.co/WymshkTvat</a>— Eric Balchunas (@EricBalchunas) <a href="https://twitter.com/EricBalchunas/status/1795934675380109479?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">May 29, 2024</a>
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Bloomberg ETF analyst James Seyffart <a href="https://x.com/JSeyff/status/1795933440090452413" target="_blank" rel="noopener noreferrer nofollow">echoed </a>Balchunas’ sentiments, suggesting that BlackRock’s updated S-1 demonstrates significant engagement between issuers and the SEC, indicating progress toward spot Ethereum ETF launches.
BlackRock’s amended S-1 included details about its seed capital investor — the entity funding the ETF’s initial trading activities.
On May 21, a BlackRock affiliate firm, acting as the seed capital investor, agreed to purchase $10,000,000 in shares, receiving 400,000 shares at a price of $25.00 per share, according to the filing.
The ETF will list and trade under the ticker “ETHA.”
On the same day, Hashdex withdrew its bid for a spot Ether ETF, despite its <a href="https://crypto.news/sec-greenlights-spot-ether-etfs-but-ether-price-shows-little-movement/" rel="noopener noreferrer nofollow">approval</a> by the SEC alongside BlackRock and seven other issuers.
You might also like: <a href="https://crypto.news/unlike-the-us-hong-kong-considering-staking-in-spot-ethereum-etfs/" rel="noopener noreferrer nofollow"> Unlike the US, Hong Kong considering staking in spot Ethereum ETFs </a>
Analysts predict that these ETFs will<a href="https://crypto.news/qcp-capital-spot-ethereum-etf-approval-may-boost-prices/" rel="noopener noreferrer nofollow"> drive ETH to new highs</a>, with some speculating that Wall Street will use them as a bet on web3’s growth.
“The US Securities and Exchange Commission (SEC) ‘s green light for spot Ether ETFs is a watershed moment for the crypto industry. It builds on the success of Bitcoin ETFs, offering a secure and regulated way for investors to access Ether. This broader acceptance will fuel mainstream adoption and reflect a maturing regulatory environment, paving the way for further legitimizing the entire digital asset space,” Sumit Gupta, Co-founder of CoinDCX, told crypto. news in an earlier statement.
“Bitcoin rose to over $73,000 from $42,000 in the two weeks after the ETF started trading on January 11…Similarly, it is anticipated that a spot Ether (ETH) ETF could drive an [Ethereum] rally of as much as 60%,” he added.
However, some analysts speculate that ETH could face price pressure as the Grayscale Ethereum Trust (ETHE) might see $110 million of average daily outflows for weeks after it converts and its discount narrows.
Read more: <a href="https://crypto.news/ethereum-vehicles-attract-36m-after-etf-greenlight/" rel="noopener noreferrer nofollow"> Ethereum vehicles attract $36m after ETF greenlight </a>

Bloomberg analyst predicts June launch date for spot ETH ETFs

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