BlackRock then submitted an amended registration statement for its would-be Ethereum-focused fund, the next step as firms seek to list and trade their products. It submitted its Amendment S-1 document a week following the approval of the U. S. Securities and Exchange Commission to 19b-4 forms of eight Ethereum ETFs, including BlackRock’s proposed iShares Ethereum Trust. Issuers still require filing their S-1 statements before trading is likely to commence.
Read Also: Fidelity Spot Ether ETF is on the DTCC under the ticker FETH
Under the new format, BlackRock provided details of seed capital investors to the public. BlackRock, in its revised filing, said, “On May 21, 2024, subject to conditions, the Seed Capital Investor, which is an affiliate of the Sponsor, acquired the Seed Creation Baskets consisting of 400,000 Shares for a per-share consideration of $25. 00”. The asset manager also revealed that the shares will be listed and begin trading under ‘ET Health Sciences & Technology Acquisition Corp’ with the ticker ‘ETHA.’
End of June Launch Possible for BlackRock
The SEC has recently begun discussions with issuers concerning their S-1 filings. The exact time it may take for this process to happen is still unknown, although some people believe that it may take weeks. BlackRock’s amended S-1 elicited a positive response from Bloomberg ETF analyst Eric Balchunas, who said that it is a “good sign” in a blog post on X on Wednesday. ‘Probably see rest roll in soon,’ Then, ‘probably one more round of fine-tune comments from Staff. ’ End of June launch is a legit possibility, although my o/u date is July 4,’ Balchunas said.
Advertisement
This development indicates enduring regulatory proceedings and more clarity from issuers such as BlackRock. These adjustments give more company exposure and strengthen BlackRock’s statement to follow regulatory guidelines and rules.
Read Also: Vitalik Buterin has donated 30 ETH to Tornado Cash developers
Maxwell Mutuma
Maxwell is a crypto-economic analyst and Blockchain enthusiast, passionate about helping people understand the potential of decentralized technology. He writes extensively on topics such as blockchain, cryptocurrency, tokens, and more for top publications such as Coingape, Coin Edition, and The Coin Republic. His goal is to spread knowledge about this revolutionary technology and its implications for economic freedom and social good.