Ethereum ETF Approval Imminent, SEC Open to New Funds
Bitwise COO Katherine Dowling stated that the spot Ethereum ETF is “close to the finish line,” noting that the U.S. Securities and Exchange Commission (SEC) is “fairly welcoming” of other related products.
On July 9, Dowling told Bloomberg that there were fewer issues between the SEC and ETF issuers in the latest S-1 amendment, indicating that the launch of the ETF is nearing completion.
Dowling confirmed SEC Chairman Gary Gensler’s stance that the agency will fully approve the issuers’ registration statements by summer.
It’s worth noting that she described an open-ended timeframe. Dowling said, “Everyone has a different definition of summer. For waiting issuers, this summer has been a bit too long.”
Dowling added, “Bitwise plans to differentiate itself from applicants like BlackRock and Fidelity by positioning itself as a ‘Crypto asset specialist’ and continuing to focus on the industry in the future.”
![bitwise ethereum etf](https://coindarwin.com/wp-content/uploads/2024/07/bitwise_ethereum_etf-coindarwin.webp)
Bitwise submitted its latest amendment on July 3, and other applicants filed updated documents by the July 8 deadline.
Dowling also stated that Bitwise has communicated with the SEC about potential “upcoming” new products. She mentioned, “I believe our communication with the SEC about these products’ prospects will be very well received.”
However, Dowling also agreed with Bloomberg ETF analyst Eric Balchunas’s view that some products might only be approved under a new SEC chairman.
She added, “Otherwise, based on the historical approval of previous products and the potential products’ lack of future market foundation, bringing these products to market might take a considerable amount of time.”
Dowling did not disclose the names of the related products. Currently, the only other pending spot Crypto ETFs are VanEck’s and 21Shares’ spot Solana (SOL) ETFs.