BlackRock Files updated 19b-4 Form for Spot Ethereum ETF
The largest asset manager in the world, BlackRock, has filed an updated 19b-4 form for its Spot Ethereum ETF application. Indeed, the firm had officially revised its filing with the US Securities and Exchange Commission (SEC) in response to its request for updates amid impending approvals.
BlackRock was one of the most prominent asset management firms to issue spot Bitcoin ETFs earlier this year. Additionally, with Spot Ether ETFs expected to be greenlit, the firm would continue a 10-year approval streak, fortifying its impressive track record with the SEC.
Also Read: BlackRock Expects Spot Bitcoin ETF Trading By Sovereign Wealth
BlackRock Submit’s Updated Ethereum ETF Filing as Approvals Near
Following the approval of Spot Bitcoin ETFs in January, all eyes were on what asset could receive a similar investment option. Those hopes began to dwindle at the start of May, as a host of Ethereum ETF applications were facing consistent delays. However, things took a turn this week, with the SEC seemingly altering its perspective.
Bloomberg had noted that this sudden shift resulted in approval odds increasing from 25% to 75%. Now, a plethora of issuers are abiding by SEC requests in regard to their applications. The latest to do so has been $9 trillion asset manager BlackRock, who filed an updated 19b-4 form for its Spot Ethereum ETF.
Also Read: Vanguard Hires Former BlackRock ETF Head as New CEO
The firm has proven its incredible streak of approvals with the SEC. Indeed, the largest asset manager in the world has only ever seen one ETF application be denied by the agency. Interestingly enough, the previously rejected Total Return ETF saw an updated application get approved, hitting the market in December of last year.
Altogether, 9 firms are seeking Spot Ethereum ETF application approval. Among those are BlackRock, VanEck, ARK 21Shares, Hashdex, Grayscale, Invesco Glaxy, Fidelity, Franklin, and Btiwise.
The expected approval should have an unprecedented impact on EThereum’s value. Indeed, $725 billion asset manager Bernstein has already predicted ETH ETF approvals will rally the asset to a new all-time high of $6,600.