ETFs could start trading in June after Blackrock updates its S-1 filing

BlackRock has updated a key regulatory filing, sparking speculation that Ethereum exchange-traded funds (ETFs) could begin trading as early as next month.

The $10 trillion asset manager filed an updated Form S-1 on May 29, roughly a week after the US Securities and Exchange Commission (SEC) approved the iShares Ethereum Trust (ETHA) last week.

According to Bloomberg analyst Eric Balchunas, other issuers could start offering their S-1 bonds soon, making a launch by the end of June a “legitimate possibility.”

good mark. Maybe we’ll see the rest of the roll soon. Then do another round of careful feedback from employees. An end of June release is a legitimate possibility keeping my 4th of July release date https://t.co/WymshkTvat

– Eric Balchunas (@EricBalchunas) May 29, 2024

Rapid approval of Ethereum ETFs is a ‘long-term opportunity’

But Balchunas He said An accelerated launch by mid-June was an “elusive goal.” He said the approval already portrayed the Biden administration as pro-crypto, and there was no reason to rush the launch.

The approval of ETFs was primarily seen as an attempt by the Democratic Party to appeal to millions of cryptocurrency voters in the United States. Biden’s rival, Donald Trump, came out this way pro-crypto He promised to support the growth of the cryptocurrency industry in the United States if elected.

Despite the hype around Ethereum ETFs, Balchunas says that if Ethereum can get 20% of the inflows that Bitcoin ETFs attract, that “would be a huge win.”

10 may be a lot.. but at least I’ll divide by 5 when it comes to forecasts on Ethereum ETF flows/volume/media/everything about spot Bitcoin ETFs. However, getting 20% ​​of what they earned would be a huge win/successful launch by normal ETF standards. https://t.co/QDenr3jY2B

– Eric Balchunas (@EricBalchunas) May 29, 2024

He said he believes Ethereum ETFs will be seen as similar to silver in the precious metals market, as Bitcoin ETFs are gold and silver ETFs that only hold a 15% market share.

“Not many will feel the need to go beyond bitcoin/gold to allocate to crypto/precious metals,” he said.

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