Ether ETF Launch in Sight as Bitwise CCO Says the Process Nears the Finish Line

Bitwise Chief Compliance Officer Katherine Dowling has offered insights on the progress of the S-1 filing process between issuers and the SEC.

The Securities and Exchange Commission (SEC) has been an unlikely champion for crypto in 2024. The agency’s landmark decision to approve spot ETFs for Bitcoin in January has led to the injection of billions of dollars into the market, which has played a key role in the sector’s resurgence.

Following this decision, the SEC also surprisingly approved a rule change in May 2024 that would allow issuers to offer spot Ethereum ETFs. However, nearly two months later, these products have yet to go live for trading as prospective issuers continue to work on registration statements called S-1 filings with the SEC.

As the anticipation builds, an executive of one of these issuers has suggested that the end of the wait is almost in sight.

Ether ETF Launch Imminent?

Bitwise Chief Compliance Officer Katherine Dowling has offered insights on the progress of the S-1 filing process between issuers and the SEC. In a Tuesday, July 9 Bloomberg TV interview, Dowling suggested that the process was nearing its conclusion.

“We are close to the finish line for launch,” Dowling told Bloomberg Wall Street correspondent Sonali Basak and Senior ETF analyst Eric Balchunas about pending Ether ETFs.

Dowling expressed this view, noting that “fewer and fewer issues” were being addressed in S-1 amendments recently submitted by issuers, including Bitwise.

While all the focus is currently on registration statements, a few steps still have to be completed even after they are approved by the SEC for trading to start.

What Will Happen Before Ether ETF Trading

Once the S-1 filings are approved, issuers would still have to submit applications to exchanges for listing. At this point, the exchange must confirm that the ETF meets listing requirements.

After listing, the market maker would set the price for the ETF shares based on the underlying asset’s value, and then, the ETF would finally go live for trading. Judging by the Bitcoin ETF launch in January, these processes can take anywhere between a few hours and a day.

Earlier this week, ETF Store President Nate Geraci disclosed that he expected S-1 approvals within two weeks.

On the Flipside

Why This Matters

The Bitwise CCO’s comments further highlight that progress is being made in launching spot Ethereum ETFs that promise to bring billions of dollars into the market, potentially driving up ETH’s price.

Read this for more on Ether ETFs:

Ethereum ETF Amendments Roll in Ahead of “Informative Week”

See how the TON Layer 2 move benefits Polygon:

How TON-Based Layer-2 Boosts Polygon’s (MATIC) Connectivity Dream

The above is the detailed content of Ether ETF Launch in Sight as Bitwise CCO Says the Process Nears the Finish Line. For more information, please follow other related articles on the PHP Chinese website!