One more step. As Bitwise has just updated its application, the launch date of its ETH spot ETF could be close. What to expect in the coming weeks?
Bitwise Updates Application for Spot Ethereum ETF
Bitwise has just updated the famous “S-1” form. This is an application element filed with the Securities and Exchange Commission (SEC), which precedes the launch of an ETF. The filing of amendments is a good sign: it shows that the SEC has already provided comments on the company's SOL spot ETF, and that these comments have been taken into account.
💡 To understand what is at stake – What is a Bitcoin ETF (BTC)?
In theorythis means that everything is now ready to launch Bitwise's ETH ETF.It is recalled that Gary Gensler, the director of the SEC, had confirmed that this would take place during the summer, but without giving precise dates.
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SEC Dragging Its Feet?
According to Eric Balchunas, who analyzes ETFs for Bloomberg, SEC appears to be dragging its feet on launching ETH ETFsThe American financial policeman had in fact only a few remarks and corrections to make regarding the candidacy:
No one really knows why the SEC is taking their sweet time with these, given how light comments were, these could have easily been traded by now. Could be one 'problem' issuer slowing down process or just summertime lazy/ppl on vaca. Not sure. That said, all indications launch…
— Eric Balchunas (@EricBalchunas) July 3, 2024
“No one really knows why the SEC is taking so long with this. […] That said, everything points to a launch this month. We'll have more details next week.“
👉 Also in the news – Bitcoin spot ETF volumes turn negative as Ethereum spot ETF launch approaches
So it would only be a matter of time for Bitwise's ETH ETF. The news marks a significant increase, especially when you see the effect that the approval of Bitcoin spot ETFs had on the price of BTCIt remains to be seen whether investors' appetite will be the same for Ethereum's native cryptocurrency.
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Source: SEC
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A journalist at Cryptoast since 2017, I am passionate about the issues of decentralization, privacy and regulation. I specialize in traditional economics and finance, analyzing how news from this sector influences the cryptocurrency sector, offering a unique and informed perspective to Cryptoast readers.
Marine Debelloir
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