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Bitwise Executive Confirms Ethereum ETFs are Close to Final Approval

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Bitwise’s Chief Compliance Officer Katherine Dowling believes that Spot Ethereum ETF will launch soon.

However, Dowling noted that based on the S-1 amendments, there are few issues between the issuers and the US SEC.

She predicted that spot Ether ETFs would be closer to their launch date.

These Spot ETF products will start trading following the approval of the S-1 forms.

Moreover, the SEC chairman Gary Gensler said he expected approval for the Ether ETFs in the summer.

Dowling and Others Analyze Spot Ether ETFs’ Possible Launch Date

According to Katherine Downing, the wait is quite long for issuers eager for their products to go live.

Bloomberg tweet

The spot ETFs remain on the waitlist for weeks after the regulator approved several 19b-4 filings on May 23.

Also, these issuers submitted amended S-1 documents in early July after the SEC provided the first feedback.

According to Bitwise Investment CIO Matt Hougan, the Spot Ethereum ETFs will attract $15 billion within their first 18 months.

Also, Hougan noted that investors currently have $56 billion invested in Spot Bitcoin exchange-traded products (ETPs).

So, Hougan believes that Spot Ethereum ETPs will follow the same adoption trend.

Meanwhile, Bloomberg ETF specialist James Seyffart claimed that Ether Spot ETFs launch in July is under probability. However, these ETFs will likely launch by the end of the summer.

US SEC Open to Launching Other Funds Amid Ethereum ETF Launch Date Debate

Dowling stated the SEC is open to discussions for other non-Bitcoin or Ether products.

The Chicago Board Options Exchange (CBOE) applied on July 8 to list Spot Solana ETFs. The exchange made this move on behalf of asset managers VanEck and 21Shares.

However, Dowling doubts if Solana or any other additional ETF will be approved under the leadership of SEC Chair Gary Gensler.

Bloomberg analyst Eric Balchunas also shared a similar sentiment. Balchunas believes Spot Solana ETFs are dead on arrival if US President Joe Biden is re-elected and Gensler remains the SEC chairman.

Eric Balchunas

Overall, the spot Ethereum ETF launch could inject positivity into the market and support a rally for cryptocurrencies.

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