- BlackRock, a leading asset management firm, has filed a revised S-1 form for its spot Ethereum ETF, signaling progress towards its launch.
- Analysts predict that the spot Ethereum ETFs could start trading by late June, with the SEC’s approval process showing positive signs.
- Bloomberg ETF analysts Eric Balchunas and James Seyffart have expressed optimism, noting significant engagement between issuers and the SEC.
BlackRock’s revised S-1 filing for its spot Ethereum ETF indicates significant progress, with analysts predicting a potential launch by late June. Stay updated on the latest developments in the crypto ETF landscape.
Spot ETH ETFs Could Start Trading by June
ETF analyst Eric Balchunas from Bloomberg expressed optimism about the development, considering it a positive sign and expecting other filings to follow suit soon. Balchunas believes that an end-of-June launch is a realistic possibility, although he still estimates the odds of approval around July 4, considering an earlier approval a long shot. “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,” he wrote on X.
Another Bloomberg ETF analyst, James Seyffart, also noted that BlackRock’s revised S-1 form indicates the desired engagement between issuers and the SEC, suggesting progress toward launching spot Ethereum ETFs. “This is almost certainly the engagement we were looking for on the S-1’s following the 19b-4 approvals. Issuers and SEC are working towards spot Ethereum ETF launches,” Seyffart commented.
Spot ETH ETF Approval to Influence Price
Analysts anticipate that the introduction of Ethereum ETFs will drive the price of ETH to new highs, as some view it as a Wall Street bet on the growth of Web3. However, there are also speculations about potential price pressure on ETH due to the Grayscale Ethereum Trust (ETHE). As the ETHE converts and its discount narrows, analysts predict average daily outflows of around $110 million for several weeks.
Meanwhile, the recent approval of Ethereum ETFs has opened the doors for more crypto investment products, according to research from TD Cowen’s Washington Research Group. While the speed of approval caught some off guard, the research group viewed it as an inevitable outcome following the approval of Bitcoin ETFs earlier this year. Jaret Seiberg, a member of TD Cowen’s team, noted that the Ethereum ETF approval came about six months earlier than expected but was predictable after the Securities and Exchange Commission (SEC) gave the green light to crypto futures ETFs.
Furthermore, the approval of spot ETH ETFs potentially confirms Ether’s status as a non-security, according to industry experts.
Conclusion
The revised S-1 filing by BlackRock for its spot Ethereum ETF marks a significant step towards its potential launch, with analysts predicting a possible start by late June. The approval of Ethereum ETFs is expected to influence ETH prices and pave the way for more crypto investment products. As the SEC continues to engage with issuers, the crypto market eagerly awaits the next developments in this evolving landscape.
