BlackRock Changes Ethereum ETF App; Bloomberg’s Balchunas calls it a ‘good sign’

black rock filed an amended Form S-1 for its proposed spot ether (ETH) exchange-traded fund (ETF) which revealed more information about the product which was recently approved for listing in the United States

The form revealed that a “seed investor” had purchased the initial shares for the proposed product.

“On May 21, 2024, the Seed Capital Investor, an affiliate of the Sponsor, conditionally purchased the Seed Creation Baskets, comprising 400,000 shares at a price per share equal to $25.00 ”, indicates the S-1 form. “The net asset value of the trust was $10,000,000.”

Subject to regulatory approval, assets held in the ETF can be redeemed for cash or even ether. The iShares Ethereum Trust ether ETF will be listed and traded under “ETHA”.

Bloomberg analyst Eric Balchunas called the updated S-1 a “good sign,” adding that a launch by the end of June was “a legitimate possibility.”

Updated S-1 comes nearly a week after Securities and Exchange Commission (SEC) approved the listing of several ether ETFs in the United States, reinforcing bullish sentiment in the broader crypto market.

The IBIT has recorded more than $16 billion in net inflows since January, as reported, with significant state pension fund among its investors.

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