Bitwise CCO says Ethereum ETFs ‘close to finish line’, SEC open to other funds
Bitwise CCO Katherine Dowling said spot Ethereum ETFs are “close to the finish line” while noting that the SEC is “quite welcoming” about discussions regarding other products.
On July 9, Dowling told Bloomberg that the SEC and ETF issuers are addressing fewer issues in each S-1 amendment, pointing to a close launch.
Dowling affirmed SEC chair Gary Gensler’s assertion that the agency will fully approve issuers’ registration statements over the summer but described an open time frame. She said:
“You know, everyone has a different definition of summer. It’s been a little bit of a long, hot summer for the issuers waiting ….”
Dowling said that Bitwise intends to set itself apart from other applicants, including giants such as BlackRock and Fidelity, as a “crypto specialist” with years of focus on the sector.
Bitwise filed its most recent amendment on July 3, while many other applicants filed on a July 8 deadline. Applicants must still add certain details, including sponsor’s fees, in future amendments.
SEC welcoming to other discussions
Dowling also said that Bitwise has spoken to the SEC about potential new products “coming down the pipe.” She described the conversations positively, stating:
“I think our communication with the SEC about the prospects for these products has actually been quite welcoming.”
However, she agreed with Bloomberg ETF analyst Eric Balchunas that some products may only be approved under a new SEC chair.
Otherwise, she said, it could take considerable time to bring the products to market due to the history of previous product approvals and the lack of future markets underlying the potential products.
Dowling did not identify the products in question. Currently, the only other pending spot crypto ETFs are VanEck and 21Shares’ spot Solana (SOL) ETFs.
Bitwise has not applied for a similar product as of press time.
The post Bitwise CCO says Ethereum ETFs ‘close to finish line’, SEC open to other funds appeared first on CryptoSlate.
