🎉Big news, BTC enthusiasts! Bitwise, the asset management firm, has updated its S-1 registration with the US Securities and Exchange Commission (SEC) to list and trade shares of a spot Ether exchange-traded fund (ETF). 📈

This comes after SEC Chair Gary Gensler hinted that approvals for spot Ether ETFs could be finalized by summer 2024. Some analysts are even predicting it could happen as early as July! 🌞

Bitwise submitted the updated Form S-1 on July 3, including a six-month fee waiver for up to $500 million. While no exact launch date was specified, the filing stated it would happen "as soon as practicable after the effective date" of the registration. 🚀

Bloomberg ETF analyst Eric Balchunas noted that Bitwise filed the amended S-1 ahead of a July 8 deadline. He also speculated on the reasons for the SEC’s delayed approval process, suggesting it could be due to a problematic issuer or simply the summertime slowdown. 🤔

The move by Bitwise follows the SEC’s approval of the spot Ether ETF 19b-4 filings from eight asset managers on May 23. Since then, the crypto investment community has eagerly awaited further developments from the SEC regarding the potential release date. 📅

In a June 13 Senate Banking Committee hearing, SEC Chair Gary Gensler stated that the commission expected to approve S-1 registration statements for asset managers “sometime over the course of this summer.” Gensler mentioned that the registration process for the Ethereum exchange-traded products was proceeding smoothly, with approvals for individual issuers expected in the coming months. 🎯

So, keep your eyes peeled, BTC lovers! The crypto world is about to get even more exciting! 🎉🚀