BlackRock submits S-1, raising the possibility of a legitimate Ethereum ETF launch in June.

Analysts believe that Ether (ETH) exchange-traded funds (ETFs) in the United States have a strong chance of launching by late June, following an update by BlackRock, a key filing necessary for the launch. On May 29, BlackRock updated its Form S-1 for its iShares Ethereum Trust (ETHA) with the Securities and Exchange Commission, shortly after the regulator approved its 19b-4 filing. Bloomberg ETF analyst Eric Balchunas commented that this is a positive sign and expects further progress soon. He also stated that a launch by the end of June is a possibility, although he believes the odds of approval are more likely around July 4. James Seyffart, an analyst at Bloomberg ETF, said that BlackRock’s updated S-1 filing indicates that the issuers and the SEC are working towards launching spot Ethereum ETFs. The filing also revealed information about the seed capital investor for BlackRock. Meanwhile, Hashdex withdrew its bid for a spot Ether ETF shortly after the SEC approved it alongside BlackRock and seven other issuers. Analysts anticipate that the introduction of the ETFs will drive Ether to new highs, as some believe that Wall Street will use it as a bet on the growth of Web3. However, others speculate that Ether may face price pressure as the Grayscale Ethereum Trust (ETHE) experiences significant outflows after its conversion.