Bloomberg analysts predict a June launch date for the spot ETH ETF.

Bloomberg ETF senior analyst Eric Balchunas predicted that a spot Ethereum ETF could launch by the end of June.

The latest forecast follows BlackRock’s recent amendment to its Form S-1 filing for the iShares Ethereum Trust filed with the Securities and Exchange Commission (SEC) on May 29.

The update comes nearly a week after the SEC approved BlackRock’s 19b-4 filing, a necessary step for ETF trading to begin.

“It’s a good sign. (Probably) the break will start soon,” Balchunas said in a May 29 X post.

Balchunas said there could be another round to “fine-tune” the SEC opinion, but he believes a “late June launch is a legitimate possibility.” But he maintained approval around the Fourth of July was a possibility, noting that early approval would be “hopeful.”

Bloomberg ETF analyst James Seyffart echoed Balchunas’ sentiments, noting that BlackRock’s updated S-1 shows significant engagement between the issuer and the SEC and signals progress toward launching a spot Ethereum ETF.

BlackRock’s revised S-1 includes details about seed capital investors, the entities that fund the ETF’s initial trading activity.

According to the filing, on May 21, a BlackRock affiliate serving as an initial capital investor agreed to purchase $10,000,000 of stock and receive 400,000 shares at a price of $25.00 per share.

The ETF is listed and traded under the symbol “ETHA”.

On the same day, Hashdex, along with BlackRock and seven other issuers, withdrew their bid for a spot Ether ETF despite SEC approval.

Analysts predict that these ETFs will push ETH to new highs, and some speculate that Wall Street will use them as a bet on the growth of web3.

“The U.S. Securities and Exchange Commission’s (SEC) approval of the spot Ether ETF is a watershed moment for the cryptocurrency industry. This builds on the success of Bitcoin ETFs and provides investors with a secure and regulated way to access Ether. This widespread acceptance will pave the way for mainstream adoption and reflect a mature regulatory environment, further legitimizing the entire digital asset space,” Sumit Gupta, co-founder of CoinDCX, said in crypto. News from previous statement.

“Bitcoin has risen from $42,000 to over $73,000 in the two weeks since ETF trading began on January 11… Likewise, a spot Ether (ETH) ETF could lead to a (Ethereum) rally of up to 60%. It is expected.” Added.

However, some analysts speculate that ETH could face price pressure as the Grayscale Ethereum Trust (ETHE) could see outflows of an average of $110 million per day for several weeks after its post-conversion discount rate narrows.