The Spot Ethereum ETF is nearing its launch, says Bitwise’s chief compliance officer, Katherine Dowling. The SEC and issuers are amending minor issues pointed out in the S-1 filing form, making the ETF close to launch.
The awaited launch of the 8 spot Ether ETF is making its steps towards approval, however, an exact date has yet to be announced by the regulators. The Ethereum Exchange Traded Funds will go live immediately after the SEC approves the S-1 filing form.
“Everyone has a different definition of summer. It’s been a little bit of a long, hot summer for the issuers waiting,” Dowling said in an interview on X.
Several 19b-4 filing forms were accepted and approved by the authorities on May 23 however, some spot ETH ETF issuers still have to wait several weeks to get their S-1 registration statement signed by the SEC.
The S-1 forms are submitted in the first week of July after the authorities provide feedback on them.
Matt Hougan, Bitwise’s chief investment officer, expects spot Ether ETFs to attract up to $15B in inflows within the first 1.5 years of trading. Comparing it with the amount of funds gathered by the Spot Bitcoin ETF on its launch.
SEC Ready to Consider Funds Outside Bitcoin and Ethereum
In the interview, Dowling also disclosed the openness of the SEC to funds other than Bitcoin and Ethereum funds.
Dowling said.
“I think our communication with the SEC about the prospects for these products has actually been quite welcoming.”
On July 8, The Chicago Board Options Exchange also applied for Solana ETF on behalf of VanEck and 21Shares. Dowling shared her thoughts that she does not think any other spot ETF will get approval in Gensler’s leadership.
Bloomberg ETF analyst Eric Balchunas shared similar thoughts on July 9, stating that a spot Solana ETF application would likely be “dead on arrival” if Biden were re-elected and Gensler remained the head of the financial regulator.
