BlackRock has submitted a modified S-1 form for their proposed exchange-traded fund (ETF) for Ether (ETH) to be traded in the US market.
The updated form included more details about the product, which recently received approval for listing. It also revealed that a “Seed Capital Investor” had purchased the initial shares.
According to the form, on May 21, 2024, the Seed Capital Investor, a subsidiary of the Sponsor, bought the Seed Creation Baskets, consisting of 400,000 Shares at a price of $25.00 per Share.
The net asset value of the Trust at that time was $10,000,000. Once it obtains regulatory approval, the assets held in the ETF can be redeemed for cash or Ether.
The Ether ETF, known as iShares Ethereum Trust, will be listed and traded under the ticker symbol “ETHA.” Eric Balchunas, an analyst at Bloomberg, commented that the updated S-1 form was a positive sign and that there was a strong possibility of the ETF being launched by the end of June.
