BlackRock recently amended the S-1 form for its Ethereum Spot ETF project, revealing new crucial information for the product that has been approved for listing in the United States.
This form revision details the initial purchase of shares by a ‘Seed Capital Investor‘, which is a subsidiary of the ETF sponsor. On May 21, 2024, this investor acquired the ‘Seed Creation Baskets‘, including 400,000 shares at a unit price of $25, thus valuing the fund’s net asset at $10 million.
Launch Prospects for the Ethereum Spot ETF
Eric Balchunas, an analyst at Bloomberg, interpreted this S-1 form update as a ‘positive sign‘, suggesting that the launch of the ETF before the end of June is very likely. This outlook becomes even more plausible as U.S. regulators, including the Securities and Exchange Commission, have recently approved several Ethereum ETFs, bolstering the bullish sentiment in the crypto market.
BlackRock Takes the Lead in Bitcoin Spot ETFs
Furthermore, BlackRock has reached a significant milestone by becoming the largest publicly traded Bitcoin ETF, surpassing Grayscale. BlackRock’s fund, IBIT, has seen notable success since its launch in January, with net inflows of over $16 billion and prestigious investors such as major state pension funds.
The success of this Bitcoin Spot ETF and the recent approval of Ethereum Spot ETFs are clear indicators of the growing acceptance of cryptocurrencies within the traditional regulatory and financial framework.
