BlackRock, the world’s largest asset manager with nearly $10 trillion worth of assets under management, recently updated its S1 filing with the US SEC (Securities and Exchange Commission). The move highlights positive developments towards a spot Ethereum (ETH) ETF launch.
According to the updated document, BlackRock will not participate in staking activities. The document states, “Foregoing potential returns from Staking Activities could cause an investment in the Shares to deviate from that which would have been obtained by purchasing and holding ether directly by virtue of giving up staking as a source of return when an investor holds the Shares.“
Also Read: SEC Approves All Spot Ethereum ETFs
BlackRock’s latest S1 filing update mirrors that of VanEck’s. VanEck and its affiliated parties will also not participate in Ethereum’s staking activities.
Will an Ethereum ETF launch in July?
According to Bloomberg ETF expert James Seyffart, the recent S1 filing updates could mean that a spot ETH ETF is just weeks away. Seyffart highlights that developments that take months have happened in one week.
Furthermore, Bloomberg ETF analyst Eric Balchunas, believes that an Ethereum ETF could debut by the end of June or by July 4.
Also Read: Cryptocurrency: 3 Coins Set To Capitalize On ETH ETF Hype This June
The launch of a spot ETH ETF could send the crypto market into a frenzy. US crypto investors had long asked for crypto-based spot ETFs. The US SEC made a historic move by approving 11 spot Bitcoin (BTC) ETFs in January. Moreover, the move triggered a market-wide rally, leading to BTC hitting 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 for the US. Therefore, a similar pattern to the one earlier this year may emerge with the launch of a spot Ethereum ETF.