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BlackRock’s Ether ETF Poised for Late June Launch, Analysts Say

United States spot Ether exchange-traded funds (ETFs) may launch by late June, according to analysts, after BlackRock updated a crucial filing.

On May 29, BlackRock revised its Form S-1 for its iShares Ethereum Trust (ETHA) with the Securities and Exchange Commission (SEC).

This follows the SEC’s approval of its 19b-4 filing, both required for the ETF to begin trading.

“Good sign. [Probably] see rest roll in soon,” Bloomberg ETF analyst Eric Balchunas noted in a May 29 post on X.

Balchunas mentioned that another round of adjustments to SEC comments is expected, but an “end of June launch [is] a legit possibility.”

He maintained his approval odds around July 4, considering an earlier approval a “long shot.”

Bloomberg ETF analyst James Seyffart said BlackRock’s updated S-1 indicates significant progress, suggesting “issuers and SEC are working towards spot Ethereum ETF launches.”

BlackRock’s revised S-1 included details about its seed capital investor, the entity providing funds for the ETF to start trading.

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On May 21, the investor, a BlackRock affiliate, “agreed to purchase $10,000,000 in Shares on May 21, 2024, and on May 21, 2024, took delivery of 400,000 Shares at a per-Share price of $25.00,” according to the filing.

The filing also confirmed the ETF would list and trade under the ticker “ETHA.”

This development coincides with Hashdex withdrawing its bid for a spot Ether ETF, despite the SEC approving it along with BlackRock and seven other issuers.

A source familiar with the application informed Cointelegraph that Hashdex “no longer intends to move forward with a single asset Ether ETF.”

Analysts predict the launch of these ETFs could propel ETH to new highs, with some viewing it as a bet on Web3’s growth.

However, there is also speculation that ETH could face price pressure due to potential outflows from the Grayscale Ethereum Trust (ETHE), which might see $110 million in average daily outflows for weeks post-conversion and discount narrowing.

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Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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