BlackRock has revised the S-1 registration statement for its upcoming Ethereum ETF with more disclosures.
BlackRock has filed an amended registration statement for its proposed Ethereum fund, marking the company’s latest move to list and trade the product.
The world’s largest asset manager submitted a revised S-1. registration statement Almost a week after the U.S. Securities and Exchange Commission announced Approved 19b-4 is the format for eight Ethereum ETFs, including the iShares Ethereum Trust proposed by BlackRock. Issuers must ensure that the S-1 Statement is effective before commencing trading.
In the revised form, BlackRock disclosed information about its seed capital investors.
“On May 21, 2024, Seed Capital Investor, an affiliate of the Sponsor, purchased Seed Creation Baskets consisting of 400,000 shares at a price per share of $25.00, subject to the terms,” BlackRock said in the amended filing. The asset manager said the shares will be listed and traded under the ticker symbol “ETHA.”
The SEC recently I started a conversation with the issuer. About Form S-1. It’s unclear how long this process will take, but some analysts speculate it could take several weeks.
Bloomberg ETF analyst Eric Balchunas called BlackRock’s S-1 revision “a good sign.” post On Wednesday
“Check to see if the break will start soon, and take another look at my staff’s fine-tuning comments. At the end of June, even if I keep my O/U date for July 4th, it starts as a legal possibility,” Balchunas said.
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Sarah is a reporter for The Block covering policy, regulation and legal events. She was previously a reporter writing about securities regulation at CQ Legal, where she first began her reporting on cryptocurrencies. She Sarah has also written for The Bond Buyer and American Banker, among other financial publications. She graduated from the University of Missouri with a degree in Print and Digital Journalism. Sarah lives in Washington, DC and she is an avid coffee lover. You can follow her on Twitter @ForTheWynn.
