Bitwise CCO Says Ethereum ETF is “Close to the End Line,” SEC Opens to Different Funds

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Bitwise CCO Katherine Dowling stated the spot Ethereum ETF is “near the end line,” noting that the SEC is “very open” to discussions about different merchandise.

Dowling informed Bloomberg on July 9 that the SEC and ETF issuers are addressing fewer points of their proposed S-1 amendments, suggesting a launch is imminent.

Dowling famous that SEC Chairman Gary Gensler has asserted that the SEC will approve issuers' registration statements of their entirety over the summer season, however that no deadline has been set.

“Everybody has their very own definition of summer season. For publishers, it's been a little bit of a protracted, sizzling summer season…”

Dowling stated Bitwise plans to tell apart itself from different candidates, which embrace bigger companies corresponding to BlackRock and Constancy, as “cryptocurrency specialists” with a long-standing concentrate on the sector.

Bitwise submitted its newest modification on July 3, whereas many different candidates submitted earlier than the deadline of July 8. Candidates might want to add sure particulars, corresponding to sponsor charges, in future amendments.

The SEC welcomes different discussions

Dowling additionally stated that Bitwise has had discussions with the SEC about new merchandise that “could also be coming.” She described the conversations as constructive, saying:

“I feel our communications with the SEC concerning the prospects for these merchandise have really been very constructive.”

However she agreed with Bloomberg ETF analyst Eric Balchunas that some merchandise could solely be authorised beneath a brand new SEC chairman.

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In any other case, it might take a major period of time to carry a product to market as a result of there could be no previous product approval historical past or future market to again up a possible product, she stated.

Dowling didn’t specify the product in query.Presently, the one spot cryptocurrency ETF on maintain is VanEck and 21Shares' spot Solana (SOL) ETF.

Bitwise had not filed an analogous product on the time of writing.

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