ETH ETF Close to the Finish Line?

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Hey folks.

Eight spot Ether exchange-traded funds (ETFs) are getting closer to going online, but Katherine Dowling, chief compliance officer at Bitwise, a cryptocurrency asset manager, is unsure of the precise launch date.

On July 9, Dowling shared with Bloomberg,

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.

So that points all signs in the direction that we are close. We're close to the finish line on the launch.

Details on the issuer and the securities they plan to offer are included in Form S-1s. When authorized, the products can go on sale.

Recently, SEC Chair Gary Gensler hinted that Ether ETFs will debut in the summer.

Multiple issuers of spot Ether ETF have been waiting for six weeks to have signed off their S-1 registration statements by the Securities and Exchange Commission after several 19b-4 filings approved by the regulator on May 23.

In early July after the securities regulator provided the first round of feedback, the issuers submitted their amended S-1s.

According to Bitwise's chief investment officer Matt Hougan, within the first eighteen months of trading, the spot Ether ETFs might draw in as much as $15 billion in inflows, which is about equal to the total amount that the spot Bitcoin ETFs had brought in since its inception six months prior.

Dowling disclosed that the Securities and Exchange Commission has also been open to discussions regarding Ether and non-Bitcoin products as well.

Dowling However, is not confident that a 3rd spot crypto ETF would be approved under the leadership of Gensler.

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