Ethereum
BlackRock Drops Hints at Spot ETH ETF Launch in July
BlackRock, the world’s largest asset manager with nearly $10 trillion in assets under management, recently updated its S1 filing with the U.S. Securities and Exchange Commission (SEC). This move highlights positive developments towards an Ethereum (ETH) ETF spot launch.
According to the update document, BlackRock will not participate in staking activities. The document states: “Foregoing potential returns from staking activities could cause an investment in the stocks to deviate from that which would have been obtained by purchasing and holding ether directly by foregoing staking as a source of return when an investor owns the shares.“
Also Read: SEC Approves All Spot Ethereum ETFs
The latest update to BlackRock’s S1 filing mirrors that of VanEck. VanEck and its affiliated parties will also not participate in Ethereum staking activities.
Will an Ethereum ETF launch in July?
According to Bloomberg ETF expert James Seyffart, recent updates to the S1 filing could mean that a spot ETH ETF is only weeks away. Seyffart points out that developments that take months happened in a week.
Additionally, Bloomberg ETF analyst Eric Balchunas believes that an Ethereum ETF could debut by the end of June or July 4.
Also Read: Cryptocurrency: 3 Coins Set to Capitalize on ETH ETF Hype in June
The launch of a spot ETH ETF could send the crypto market into a frenzy. US crypto investors have long been clamoring for crypto-based spot ETFs. The US SEC made a historic decision by approving 11 spot Bitcoin (BTC) ETFs in January. Additionally, the move sparked a market-wide rally, which saw BTC reach an all-time high of $73,737 in March.
The US SEC approved all ETH ETFs earlier this month, marking the second crypto-based ETF in the US. Therefore, a pattern similar to earlier this year could emerge with the launch of an Ethereum spot ETF.