Article Rewritten:
The renowned asset management company, BlackRock, recently made an amendment to its S-1 form for the proposed Ethereum exchange-traded fund (ETF). The company filed a document on May 29, stating that its iShares Ethereum Trust ETF will be traded under the ticker symbol “ETHA”.
On May 23, the US Securities and Exchange Commission (SEC) approved the 19b-4 forms of eight Ethereum spot ETF issuers, including Grayscale, Bitwise, BlackRock, VanEck, Ark 21Shares, Invesco, Fidelity, and Franklin. However, the SEC is yet to approve the Form S-1 filings for these ETFs to begin product negotiations.
The recently filed document by BlackRock provides more information about its proposed ETF, which has been approved by the regulator for listing in the US. According to the form, a “Seed Capital Investor,” affiliated with the company, purchased the initial shares of the Ethereum ETF. The investor acquired 400,000 shares at a price of $25.00 per share. The net asset value of the Trust was $10,000,000, as stated in the document.
It is important to note that VanEck, a major investment management company, updated its S-1 filing shortly after the SEC’s announcement of the initial approval of Ethereum-based ETFs on May 23. In its filing, VanEck clarified that none of its affiliates, including the Trust, the Sponsor, the ETH Custodian, or any associated individuals, will participate in “Staking Activities.” Recent days have seen ETF issuers withdraw their staking proposals from the SEC.
A significant milestone in the cryptocurrency market was achieved with the listing of BlackRock’s Ethereum ETF on the Depository Trust and Clearing Corporation (DTCC), identified by the ticker symbol “$ETHA”. This development follows the SEC’s approval of eight new Ethereum-focused ETFs from prominent asset managers such as VanEck, Fidelity, Franklin, Grayscale, Bitwise, ARK Invest & 21Shares, Invesco & Galaxy, and BlackRock’s iShares Ethereum Trust. These funds are expected to be listed on major exchanges, including Nasdaq, NYSE Arca, and Cboe BZX Exchange.
Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.
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