Image credit: Michael Nagle/Bloomberg

Disclaimer: This story was originally published on May 30, 2024.

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Asset manager BlackRock has filed its updated S-1 registration statement for its iShares Ethereum Trust (ETHA) with the Securities and Exchange Commission (SEC), a May 29 filing shows.

The filing comes nearly a week after the SEC approved 19b-4 forms from eight Ether (ETH) exchange-traded funds (ETFs), including BlackRock’s respective exchange-traded product. Issuers must secure approvals on their 19b-4 and S-1 documents for the ETF to start trading.

BlackRock’s updated S-1 form revealed details about the entity providing seed capital, which is the initial funding required to commence trading of their proposed ETF.

“On May 21, 2024, the Seed Capital Investor, an affiliate of the Sponsor, subject to conditions, purchased the Seed Creation Baskets, comprising 400,000 Shares at a per-Share price equal to $25.00,” BlackRock noted in the revised filing.

BlackRock’s filing indicates a “good sign,” Bloomberg ETF analyst Eric Balchunas said in a May 29 X post, speculating that the “rest roll in soon and predicting that it will be followed by “one more round” of fine-tuning.

While a June launch is a “legit possibility,” he maintains his prediction of a July 4 launch date.

Meanwhile, James Seyffart, another Bloomberg analyst closely following ETF developments, said BlackRock’s amended S-1 form is “almost certainly the engagement we were looking for” as it shows “issuers and SEC are working towards spot Ethereum ETF launches.”

In related news, investment manager Hashdex withdrew its application for a spot Ether ETF, a filing from May 28 reveals. According to the document, the company pulled its application on May 24, a day after the SEC didn’t announce any decision regarding Hashdex’s ETF.