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BlackRock's updated filing signals progress in Ethereum ETF discussions.
BlackRock filed an updated version of its spot Ethereum exchange-traded fund’s (ETF) S-1 form, as reported by user PhoenixNews on X. The S-1 form is an initial registration required by the US Securities and Exchange Commission (SEC) before a security can be publicly traded.
As reported by Crypto Briefing, the SEC started talks with Ethereum ETF issuers regarding their S-1 registration forms last week, with the regulator highlighting that there is still “work to do” on those documents.
Therefore, Bloomberg ETF analyst James Seyffart pointed out that this is “almost certainly” the engagement the market should look for on the S-1 forms following the 19b-4 approvals last Thursday. “Issuers and SEC are working towards spot Ethereum ETF launches,” added Seyffart.
Seyffart’s fellow Bloomberg ETF analyst Eric Balchunas also weighed in on the S-1 form changes by BlackRock, calling it a “good sign.”
“Prob see rest roll in soon. Then prob one more round of fine-tune comments from Staff. End of June launch a legit possibility altho keeping my o/u date as July 4th,” predicted Balchunas.
Good sign. Prob see rest roll in soon. Then prob one more round of fine-tune comments from Staff. End of June launch a legit possibility altho keeping my o/u date as July 4th https://t.co/WymshkTvat
— Eric Balchunas (@EricBalchunas) May 29, 2024
If the spot Ethereum ETF receives the green light from the regulator to start trading in the US before the second quarter ends, this could upset Seyffart’s predictions made in the last week, as the Bloomberg analyst mentioned that it could take up to months for that to happen.
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