BlackRock Updates its S-1 Registration for its Ethereum-based ETF
BlackRock’s amended registration statement for its proposed Ethereum fund represents the latest development in a growing trend of companies seeking to list and trade their products in the cryptocurrency market.
The world’s largest asset manager filed the updated S-1 form less than a week after the US Securities and Exchange Commission approved 19b-4 forms for eight Ethereum Exchange-Traded Funds (ETFs), which include BlackRock’s iShares Ethereum Trust.
However, before trading can begin, issuers must have their S-1 statements approved. In the amended registration statement, BlackRock disclosed details about its seed capital investor, an affiliate of the Sponsor.
The investor purchased 400,000 shares at a price of $25.00 each on May 21, 2024, subject to certain conditions. The fund’s shares will be listed and traded under the ticker symbol “ETHA.” This marks another step towards the potential expansion of investment options in the cryptocurrency market.
