BlackRock's SEC Filing Boosts Hopes for July Ethereum ETF Launch
BlackRock's updated SEC filing sparks optimism for a July launch of spot Ethereum ETFs, aligning with efforts by other major asset managers like VanEck.
BlackRock has updated its S-1 filing with the US Securities and Exchange Commission (SEC), sparking optimism for the launch of spot Ethereum (ETH) exchange-traded funds (ETFs) as early as July. This move shows significant progress in the regulatory process, aligning BlackRock with other asset managers like VanEck.
In the update, BlackRock clarifies that its Trust will not participate in “Staking Activities” with its ETH. This means it won't receive staking rewards or earnings, which could make returns different from holding ether directly. This stance is similar to VanEck’s recent S-1 update, where VanEck also said it would not engage in staking activities. These actions suggest a coordinated effort to comply with SEC requirements and move forward with Ethereum ETFs.
The Depository Trust & Clearing Corporation (DTCC) has listed Fidelity’s spot Ethereum ETF under the ticker FETH. This adds legitimacy and anticipation for the new ETFs, though the launch still depends on SEC approval. James Seyffart, an ETF analyst at Bloomberg, is optimistic about the launch of spot Ethereum ETFs. He believes the SEC and issuers are working towards a launch that could happen within weeks.
Eric Balchunas, another Bloomberg ETF analyst, agrees but offers a more conservative estimate of early July. He also mentions that accelerated approval is unlikely without significant political pressure. The crypto community and experts see BlackRock’s S-1 update as a major step toward launching spot Ethereum ETFs. This aligns with similar moves by other asset managers like VanEck, indicating a trend toward meeting SEC requirements and advancing crypto ETFs.
The DTCC’s listing of Fidelity’s spot Ethereum ETF is another important milestone. This adds credibility to the upcoming crypto ETFs and raises expectations for their approval and launch.
Despite positive developments, the launch of these ETFs depends on SEC approval. Experts like Seyffart and Balchunas remain optimistic, but they acknowledge that the process usually takes months. BlackRock’s updated S-1 filing has renewed hopes for the launch of spot Ethereum ETFs, possibly as early as July. With major players like VanEck and Fidelity also making progress, the crypto ETF landscape is set for significant advancements, pending SEC approval.
