The cryptocurrency market has witnessed a noteworthy advancement, according to Bloomberg analyst Eric Balchunas. He emphasized that BlackRock’s recent submission of an updated S-1 form to the U.S. Securities and Exchange Commission (SEC) for an exchange-traded fund (ETF) focused on Ethereum (ETH) demonstrates a positive sign. Balchunas further mentioned that the green light for an ETF by the conclusion of June is a “realistic option” from a legal perspective. This milestone signifies a significant progression for BlackRock as the company further strengthens its foothold in the cryptocurrency market.
