Wednesday, June 5, 2024 – BlackRock, one of the world’s leading investment providers, submitted the updated S-1 filing to the US Securities and Exchange Commission (SEC) on May 29, 2024, to launch the iShares Ethereum Trust ETF. 1
The original registration statement for BlackRock was filled out in November 2023.
S-1 is a mandatory initial document to register companies on SEC prior to the listing of company products on US public exchanges.
A week before the registration form submission, the Federal Securities Regulator accepted the spot Ether ETFs from leading investment banks in the US, including BlackRock.
The launch of ETH ETFs is still in the pipeline, with predictions that they will be released by the end of June or early July.
It is revealed that discussions are ongoing between issuers and the SEC regarding the market status of crypto-based assets.
The investor, a BlackRock-affiliated firm, has agreed to buy $10 million worth of shares in the iShares Ethereum Trust, shared on the amendment of BlackRock.
“ETHA” would be utilized as the BlackRock symbol on trading and listing on the ETH Trust ETF.
This initial step of requesting approval would pave the way for investors to have a regulated space to use digital assets.
BlackRock is considered the world’s largest Bitcoin ETF.
Since Greyscale owns the largest ETH investment product, some crypto analysts said that the ETH price would increase with its shift from ETH Trust to a spot market-traded ETF.
Meanwhile, with the launch of ETH spot ETFs, Wall Street will benefit from betting on Web 3, several analysts stated.
- biztechafrica.com: https://www.biztechafrica.com/article/blackrock-ethereum-etf-launch/67576/ [↩]
