Eric Balchunas a Bloomberg ETF Analyst, predicted the launch of Ethereum ETFs by June.
BlackRock has released the latest forecast. amendment The Securities and Exchange Commission has received a Form S-1 for the iShares Ethereum Trust.
The SEC had approved BlackRock’s IPO about a week earlier. 19b-4 filingBoth steps are essential for ETFs to begin trading.
“Good sign. [Probably] see rest roll in soon,” Balchunas said in an X-post dated May 29, 2009.
Balchunas hinted that there could be a second round. “fine tune” SEC Comments, but He Considers An “end of June launch [a] legit possibility.” He did not change his estimation of the approval date, which he said would likely be around July 4. An earlier approval was not possible. “long shot.”
James Seyffart is a Bloomberg ETF Analyst echoed Balchunas suggests that BlackRock’s revised S-1 indicates significant engagement by issuers with the SEC. It also shows progress in launching spot Ethereum ETFs.
BlackRock’s amended S-1 included details about its seed capital investor — the entity funding the ETF’s initial trading activities.
According to the filing, on May 21, an affiliate of BlackRock, as seed capital, purchased $10,000,000 worth of shares. It received 400,000 shares for $25.00 each.
ETFs are listed under ticker codes and will trade on these. “ETHA.”
Hashdex retracted its bid on the spot Ether ETF that same day, despite it being accepted. approval The SEC, BlackRock and other issuers.
Analysts believe that ETFs like these will continue to grow. drive ETH to new highsSome have speculated that Wall Street would use the funds to bet on Web3’s continued growth.
“The US Securities and Exchange Commission (SEC) ‘s green light for spot Ether ETFs is a watershed moment for the crypto industry. It builds on the success of Bitcoin ETFs, offering a secure and regulated way for investors to access Ether. This broader acceptance will fuel mainstream adoption and reflect a maturing regulatory environment, paving the way for further legitimizing the entire digital asset space,” Sumit Gupta is the co-founder and CEO of CoinDCX. News in an earlier announcement.
“Bitcoin rose to over $73,000 from $42,000 in the two weeks after the ETF started trading on January 11…Similarly, it is anticipated that a spot Ether (ETH) ETF could drive an [Ethereum] rally of as much as 60%,” He added.
Some analysts believe that ETH may face price pressure because the Grayscale Ethereum Trust could see outflows of $110 million per day on average for several weeks following its conversion and as it narrows down its discount.
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Source: crypto.news