Asset management titan BlackRock is amending its Ethereum (ETH) exchange-traded fund (ETF) filing with the U.S. Securities and Exchange Commission (SEC) on the spot market.
According to new documents, BlackRock – which has more than $10 million in assets under management – has amended its S-1 filing with the regulator as the approval process enters its second phase.
An S-1 filing, also known as a registration statement, is the mandatory form that all entities must sign and file before offering new securities products.
BlackRock initially filed its S-1 filing in November 2023, but signed the amended filing on May 29. The amended form discloses that BlackRock’s seed investor purchased 400,000 shares of the ETF for $25 per share and that the company’s ETH ETF ticker would be named “ETHA.”
According to Bloomberg ETF analyst Eric Balchunas, this is a good sign that the ETH ETFs could be approved as early as late June or early July.
“Good sign. I’ll probably see the rest coming in soon. Then probably another round of refined comments from staff. Launch a legitimate opportunity at the end of June, although I’ll keep my over/under date at July 4.”
Last week, the SEC approved 19b-4 filings from BlackRock and other key industry players such as ARK Invest, VanEck, Fidelity and Grayscale – which is also needed to offer ETH ETFs on the spot market.
The SEC’s approval prompted a deep-pocketed crypto investor at the time to spend nearly $25 million on Ethereum-based altcoins such as Lido (LDO), Uniswap (UNI), Aave (AAVE) and Ethereum Name Service (ENS ).
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