ETFs
Bitwise CCO Says Ethereum ETFs Are ‘Close to the Finish Line,’ SEC Open to More Funds
Bitwise CCO Katherine Dowling said: Ethereum ETFs are ‘close to the finish line’ while noting that the SEC is ‘quite supportive’ of discussions regarding other products.
On July 9thDowling told Bloomberg that the SEC and ETF issuers are addressing fewer issues in each S-1 amendment, indicating an earlier launch.
Dowling confirmed as SEC chairman Gary Gensler claim that the agency fully approve issuers’ registration statements over the summer, but described an open timetable. She said:
“You know, everyone has a different definition of summer. It’s been a bit of a long, hot summer for the transmitters who were waiting…”
Dowling said Bitwise intends to stand out from other contenders, including giants such as Black rock And loyaltyas a “crypto specialist” with years of experience in the industry.
Bitwise filed its latest amendment on July 3, while many other applicants filed by July 8. Applicants still need to add some details, including sponsorship fees, in future amendments.
SEC says open to further discussions
Dowling also said that Bitwise had spoken to the SEC about potential new products “coming soon.” She described the conversations positively, saying:
“I think our communication with the SEC on the outlook for these products has been quite positive.”
However, she agreed with Bloomberg ETF analyst Eric Balchunas that some products could only be approved under a new SEC chairman.
Otherwise, she said, it could take considerable time to bring products to market because of the history of previous product approvals and the lack of underlying future markets for potential products.
Dowling did not identify the products in question. Currently, the only other pending spot crypto ETFs are Van Eck And 21Shares’ spot Solana (GROUND) AND F.
As of press time, Bitwise has not yet filed a similar product application.