Bitwise’s Chief Operating Officer, Katherine Dowling, stated that the spot Ethereum ETF is “approaching the finish line” and noted that the U.S. Securities and Exchange Commission (SEC) is “quite welcoming” of other related products.
On July 9th, Dowling told Bloomberg that there were fewer issues between the SEC and ETF issuers in this S-1 revision, indicating that the launch of the ETF is nearing its end.
Dowling affirmed SEC Chairman Gary Gensler’s statement that the agency will fully approve issuers’ registration statements in the summer.
It is worth noting that she described an open timeframe. Dowling said, “Everyone has a different definition of summer. It’s been a bit too long for the waiting issuers.”
Dowling added, “Bitwise plans to differentiate itself from applicants such as BlackRock and Fidelity by positioning itself as a ‘Crypto Asset Expert’ and will continue to focus on this industry in the future.”
Bitwise submitted the latest amendment on July 3rd, and other applicants also submitted updated documents before the deadline on July 8th.
Dowling also mentioned that Bitwise has communicated with the SEC regarding the “upcoming” potential new products. She stated, “I think our communication with the SEC about the prospects of these products will be very welcomed.”
However, Dowling also agrees with Bloomberg ETF analyst Eric Balchunas’ view that some products may only be approved under the leadership of the new SEC chairman.
She added, “Otherwise, it may take quite a long time to bring these products to the market based on the history of previously approved products and the potential lack of future market foundations for these products.”
Dowling did not disclose the names of the related products. Currently, the only pending spot Crypto ETFs awaiting approval are VanEck and 21Shares’ spot Solana (SOL) ETF.
As of now, Bitwise has not applied for a similar product.
