Ethereum ETFs Near ‘Finish Line’ as SEC Discusses Other ETFs
Bitwise’s chief compliance officer, Katherine Dowling, suggested in a July 8 Bloomberg interview that diminishing issues within S-1 filings could indicate the imminent launch of Ethereum ETFs.
This comes amidst reports of ongoing discussions between the SEC and various firms regarding other spot ETFs.
Dowling cited this as a positive sign that the highly anticipated eight U.S.-based spot Ether exchange-traded funds (ETFs) are nearing launch.
“We’re seeing in the S-1 amendments that there are fewer and fewer issues that are being vetted back and forth between issuers and the SEC,” she said.
Bitwise Chief Compliance Officer Katherine Dowling discusses her firm's Ether ETF application and the potential for new products tied to crypto https://t.co/hKIvliRCnX pic.twitter.com/PvMFeG4wWU
— Bloomberg Crypto (@crypto) July 9, 2024
These Form S-1s provide crucial details about the issuer and the proposed securities, with product launches contingent upon SEC approval.
Several spot Ethereum ETF issuers have been waiting for six weeks to have their S-1 registration statements signed off by the SEC after the regulator approved several 19b-4 filings on May 23.
Dowling referenced US Securities and Exchange Commission Chair Gary Gensler’s recent prediction that the spot Ether ETFs will launch sometime in the summer.
She did, however, acknowledge the ambiguity surrounding the timeline, stating, “Everyone has a different definition of summer. It’s been a little bit of a long, hot summer for the issuers waiting.”
Bitwise’s chief investment officer Matt Hougan speculated that the spot Ether ETFs could attract up to $15 billion in inflows in the first 18 months of trading. This amounts to roughly the same amount that spot Bitcoin ETFs have accumulated
