BlackRock Amends its S-1 Registration Statement

BlackRock submitted an updated registration statement for its proposed Ethereum fund, highlighting the ongoing efforts of financial firms to offer and trade similar products.

The largest asset manager in the world revealed its amended S-1 document just days after the US Securities and Exchange Commission approved 19b-4 forms for eight Ethereum exchange-traded funds, which include the iShares Ethereum Trust proposed by BlackRock.

It is still necessary for the S-1 statements to be effective before trading of the funds can begin. In the revised filing, BlackRock disclosed details about the entity providing the initial funding.

“On May 21, 2024, the Sponsor’s affiliate, also known as the Seed Capital Investor, acquired the Seed Creation Baskets valued at $25.00 per Share, with a total of 400,000 Shares, for a seed investment of $10 million, as long as certain conditions are met,” BlackRock stated.