BlackRock has updated its S1 file with the US SEC, which is responsible for the Securities and Exchange Commission. BlackRock manages assets in excess of $10 trillion. This move is a positive step towards launching a spot Ethereum ETF.
Updated documentBlackRock won’t participate in stake activities. Document states: “Foregoing potential returns from Staking Activities could cause an investment in the Shares to deviate from that which would have been obtained by purchasing and holding ether directly by virtue of giving up staking as a source of return when an investor holds the Shares.“
Also Read: SEC Approves All Spot Ethereum ETFs
BlackRock has released the same S1 update as VanEck. VanEck, and any of its affiliates, will not be participating in Ethereum’s stake activities.
What is the launch date of an Ethereum ETF?
James Seyffart is a Bloomberg ETF Expert. He believes that the S1 updates may indicate that an ETH ETF could be available in a few weeks. Seyffart points out that in just one week, developments that normally take months took place.
Bloomberg ETF Analyst Eric Balchunas believes an Ethereum ETF will debut at the end of July or in June.
Also Read: Cryptocurrency: 3 Coins Set To Capitalize On ETH ETF Hype This June
The release of a spot ETF for ETH could cause a crypto-market frenzy. US crypto investors have been asking for spot crypto ETFs since long. US SEC took a historical step by approving eleven spot Bitcoin (BTC), ETFs, in January. The move also triggered an overall market rally that led to BTC reaching an all-time record high of $73,737 by March.
The US SEC has approved the launch of all ETH-based ETFs. This is the second ETF based on cryptos in the US. A similar pattern as the one seen in early this year could be observed with the launch a spot Ethereum-based ETF.
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Source: watcher.guru