I've read that soon after launch, we will be getting SR1, which will only bring bug fixes and we will be getting a bigger update in October which will include new features, like extension support for Edge.
The below link tells you how to block ads. Same concept as others have posted, but just a different host file to copy and paste from, I guess. I've done it and so far it seems to be working very well for me in Edge. :smile: Microsoft Corporation Edge Browser - Here?s How To Block Ads