A Bloomberg analyst forecasts that spot Ethereum ETFs will debut in June.

Eric Balchunas, a senior ETF analyst at Bloomberg, forecasts that spot Ethereum ETFs could be launched by the end of June.

A Bloomberg analyst forecasts that spot Ethereum ETFs will debut in June.

BlackRock's recent modification to its Form S-1 filing for the iShares Ethereum Trust, submitted to the Securities and Exchange Commission (SEC) on May 29, has received a lot of attention. This update follows the SEC's acceptance of BlackRock's 19b-4 filing, which marks an important step toward the ETF's trading debut.

 In a May 29 post on X (previously Twitter), Bloomberg ETF analyst Eric Balchunas expressed optimism about the development, claiming that the upgrade is a good indicator. He expects further filings to come soon. While Balchunas highlighted the prospect of another round to fine-tune SEC remarks, he sees an end-of-June debut as a real possibility, though he maintains a cautious expectation for clearance around July 4, believing an earlier approval is less likely. 

James Seyffart, another Bloomberg ETF expert, shared Balchunas' optimism. He highlighted that BlackRock's amended S-1 filing shows significant engagement between issuers and the SEC, indicating progress toward the introduction of spot Ethereum ETFs.

BlackRock's updated S-1 filing also released information about its seed capital investor, who is responsible for paying the ETF's early trading activities. According to the filing, on May 21, a BlackRock affiliate firm agreed to purchase $10 million in shares, with 400,000 shares priced at $25 each. The ETF will be listed under the ticker "ETHA." 

Interestingly, on the same day, Hashdex withdrew its proposal for a spot Ether ETF, despite gaining SEC approval along with BlackRock and seven other issuers. 

Analysts expect that these ETFs will propel Ethereum (ETH) to unprecedented heights. Experts stated that it builds on the success of Bitcoin ETFs by offering investors a secure and regulated means to access Ether. This increased acceptability is likely to drive popular use and reflect a growing regulatory environment, thereby legitimizing digital assets. 

Experts pointed out the considerable price surge observed in Bitcoin, which soared from $42,000 to over $73,000 within two weeks subsequent to the debut of its ETF on January 11. Similarly, they anticipate that the introduction of a spot Ether ETF could ignite a significant rally in Ethereum, potentially resulting in an increase of up to 60%.

What's Your Reaction?