BlackRock, a prominent asset management company, is making changes to its application for a spot market Ethereum (ETH) exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC).

New documents reveal that BlackRock, which manages over $10 million in assets, has amended its S-1 filing with the regulatory agency as the approval process moves into its second stage.

An S-1 filing, also known as a registration statement, is a necessary form that all entities must complete and submit before offering new securities products.

BlackRock initially filed its S-1 in November 2023, but the amended version was signed on May 29th. The amended form discloses that BlackRock’s seed investor purchased 400,000 shares of the ETF at $25 per share, and the firm’s ETH ETF ticker will be named “ETHA.”

According to Bloomberg ETF analyst Eric Balchunas, this is a positive indication that the ETH ETFs could be approved as early as late June or early July.

“Good sign. We will probably see the rest roll in soon. Then there will likely be one more round of detailed comments from the Staff. End of June launch is a legitimate possibility, although I still think July 4th is a reasonable estimate.”

Last week, the SEC approved 19b-4 filings from BlackRock and other major industry players, including ARK Invest, VanEck, Fidelity, and Grayscale, who are also required to offer spot market ETH ETFs.

The SEC’s approval led one deep-pocketed crypto investor to spend nearly $25 million on Ethereum-based altcoins such as Lido (LDO), Uniswap (UNI), Aave (AAVE), and Ethereum Name Service (ENS) at the time.

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