The spot Ethereum ETF is expected to be officially launched this summer, however, other types of fund products may have to wait longer.
Bitwise Chief Commercial Officer Katherine Dowling revealed that the launch of a spot ETH ETF is close to completion, and she also expressed her appreciation for the U.S. Securities and Exchange Commission’s (SEC) openness to discussions on other products.
On July 9, Dowling pointed out in an interview with Bloomberg that as the SEC and ETF issuers gradually reduce problems in the S-1 amendment, it indicates that the launch date of ETFs is getting closer. She quoted the remarks of SEC Chairman Gary Gensler, confirming that the SEC is expected to fully approve the registration statements of issuers in the summer, although the specific time has not yet been determined. Dowling also humorously stated that this summer may seem particularly long for the anxiously waiting issuers.
Dowling also highlighted Bitwise’s expertise in the cryptocurrency space, saying the company was interested in differentiating itself from other applicants, including large institutions such as BlackRock and Fidelity.
Bitwise reportedly submitted the latest revision of its application on July 3, while many other applicants completed their revisions before the deadline of July 8. Nevertheless, applicants still need to add some details, including sponsor fees, in future revisions.
SEC open to new discussions
Katherine Dowling, Bitwise’s chief business officer, revealed that the company has discussed some potential new products with the U.S. Securities and Exchange Commission (SEC) and is optimistic about these conversations. She said: “Our communication with the SEC about the future prospects of these products has been very positive and productive.”
However, Dowling agreed with Bloomberg ETF analyst Eric Balchunas that some products may need to be approved under the new SEC chairman. She noted that the process of getting these products approved before and the uncertainty of the market prospects facing potential products may take quite a while.
Dowling did not specify the name of the product involved. Currently, in addition to Bitwise, VanEck and 21Shares have submitted applications for spot Solana (SOL) ETFs and are awaiting approval. According to the latest reports, Bitwise has not yet submitted a similar product application.
Conclusion:
With the launch of the spot Ethereum ETF imminent, Bitwise's active communication and professional positioning demonstrate its positive attitude in the field of cryptocurrency ETFs. Despite the uncertainty of SEC approval and market competition, Bitwise is confident in the upcoming new product.
At the same time, the SEC's open attitude towards new discussions brings hope to the industry, indicating that more innovative financial products may enter the market in the future, further enriching investors' choices. #Bitwise #ETHETF #SEC
