Ethereum ETF June launch ‘legal possibility’ as BlackRock files amends S-1

There is a “legitimate possibility” that a U.S. spot Ether (ETH) exchange-traded fund (ETF) will launch by the end of June after BlackRock updates key files needed for launch, according to analysts.

On May 29, BlackRock updated its Form S-1 for the iShares Ethereum Trust (ETHA) with the Securities and Exchange Commission, nearly a week after the regulator approved its 19b-4 filing. Both require approval for the ETF to begin trading..

“It’s a good sign. (Probably) the break will begin soon.” Bloomberg ETF analyst Eric Balchunas said in a May 29 X post:

He added that there would likely be another round to “fine-tune” the SEC opinion, but that “a late June launch is a legitimate possibility.” But Balchunas added that sooner approval would be “hopeful,” keeping the odds of approval around July 4.

Bloomberg ETF analyst James Seyffart said BlackRock’s updated S-1 “almost certainly is the engagement we were looking for” because it shows “the issuer and the SEC are committed to launching an Ethereum ETF.”

Related: Hashdex withdraws application for spot Ether ETF

BlackRock’s revised S-1 provided information about the initial capital investors, who are the entities that allocate funds to enable the fund to begin trading.

On May 21, the investor, a BlackRock affiliate, “agreed to purchase $10,000,000 of shares on May 21, 2024, and took delivery of 400,000 shares at a price of $25.00 per share on May 21, 2024,” the filing said. It’s with me.

The filing also states that the ETF will be listed and traded under the ticker symbol “ETHA.”

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