Ethereum

Spot

A roster of eight United States-based spot Ether exchange-traded funds (ETFs) are inching closer to going live, but crypto asset manager Bitwise’s chief compliance officer Katherine Dowling says an exact launch date remains unknown. 
“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,” Dowling told Bloomberg on July 9.
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 “So that points all signs in the direction that we are close. We’re close to the finish line on the launch.”
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Form S-1s provide information about the issuer and the securities they intend to offer. Once approved, the products can launch.
US Securities and Exchange Commission Chair<a href="https://cointelegraph.com/news/sec-chair-spot-ether-etf-s1-approvals-summer"> Gary Gensler recently predicted</a> that&nbsp;the spot Ether (<a href="https://cointelegraph.com/ethereum-price">ETH</a>) ETFs will launch <a href="https://cointelegraph.com/news/sec-chair-spot-ether-etf-s1-approvals-summer">sometime in the summer</a>.
“Everyone has a different definition of summer. It’s been a little bit of a long, hot summer for the issuers waiting,” Dowling said.
<blockquote class="twitter-tweet">
 Bitwise Chief Compliance Officer Katherine Dowling discusses her firm's Ether ETF application and the potential for new products tied to crypto <a href="https://t.co/hKIvliRCnX">https://t.co/hKIvliRCnX</a> <a href="https://t.co/PvMFeG4wWU">pic.twitter.com/PvMFeG4wWU</a>— Bloomberg Crypto (@crypto) <a href="https://twitter.com/crypto/status/1810765341317816433?ref_src=twsrc%5Etfw">July 9, 2024</a>
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Several <a href="https://cointelegraph.com/learn/spot-ethereum-etf">spot Ether ETF</a> issuers have been waiting for six weeks to have their S-1 registration statements signed off by the SEC after the regulator <a href="https://cointelegraph.com/news/sec-spot-ether-etf-approved">approved several 19b-4 filings</a> on May 23.
The issuers <a href="https://cointelegraph.com/news/bitwise-sec-ethereum-etf-launch-july">submitted their amended S-1s</a> in early July after the securities regulator provided a first round of feedback.
Bitwise’s chief investment officer Matt Hougan <a href="https://x.com/BitwiseInvest/status/1805976924239360337" target="_blank" rel="noopener nofollow">speculated</a>&nbsp;that the spot Ether ETFs could <a href="https://cointelegraph.com/news/crypto-projects-trading-crazy-valuations-bitwise">attract up to $15 billion</a> in inflows in the first 18 months of trading — roughly the same amount that the <a href="https://cointelegraph.com/learn/bitcoin-etfs-a-beginners-guide-to-exchange-traded-funds">spot Bitcoin ETFs</a> have mustered since launching six months ago.
<h3 data-ct-non-breakable="true" id="sec-is-open-to-funds-beyond-btc-and-eth">SEC is open to funds beyond BTC and ETH</h3>
Dowling revealed that the SEC has also been open to discussions concerning <a href="https://cointelegraph.com/news/bitwise-cio-excited-etp-product-ethereum-defi">non-Bitcoin and Ether products</a> as well. 
“We’ve actually dialogued with the SEC about the possibility of what’s coming down the pipe with new products,” Dowling said.
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 “I think our communication with the SEC about the prospects for these products has actually been quite welcoming.”
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The Chicago Board Options Exchange (CBOE) <a href="https://cointelegraph.com/news/solana-etf-deadline-tipped-march-vaneck-21-shares-filings">filed applications to list</a> spot Solana (<a href="https://cointelegraph.com/solana-price-index">SOL</a>) ETFs on behalf of VanEck and 21Shares on July 8.
Related: <a href="https://cointelegraph.com/news/invesco-ether-etf-fees-competition-issuers-heats-up">Invesco Ether ETF sets fees at 0.25% as competition among issuers heats up</a>
However, Dowling isn’t confident that a third spot cryptocurrency ETF will be approved under Gensler’s leadership.
Senior Bloomberg ETF analyst Eric Blachunas made a similar observation on July 9, saying that a spot Solana ETF application would likely be “dead on arrival” if Biden were to be re-elected and Gensler kept on as the head of the financial regulator. 
X Hall of Flame:<a href="https://cointelegraph.com/magazine/spot-ethereum-etf-ether-price-bitcoin-patrick-scott-dynamo-defi-hall-of-flame/"> Ethereum’s recent pullback could be a gift — Dynamo DeFi</a>

Ethereum ETFs ‘close to the finish line’ — Bitwise exec

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Cointelegraph

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