The Imminent Launch of Ethereum ETFs
Exciting news for crypto investors as Bitwise files an amended S-1 registration for its Ethereum ETF.
Analysts anticipate the possibility of Ethereum ETFs hitting the market by mid-July.
Although the SEC gave the green light for eight spot Ethereum ETFs on May 23, final approvals are pending.
To attract investors, several ETF issuers are offering fee waivers alongside their filings.
The SEC’s limited comments on recent filings hint at a potential imminent launch.
Signs of Progress
Bitwise, a prominent asset management firm, has recently made a significant move by filing an amended S-1 registration statement for its Ethereum ETF with the SEC.
This filing comes just ahead of the July 8 deadline for amendments, spurring market analysts to predict a mid-July debut for Ethereum ETFs.
The launch journey commenced when the SEC approved 19b-4 forms for eight spot Ethereum ETFs, including Bitwise’s offering, on May 23. However, before trading begins, issuers must have their S-1 statements approved.
Analyst James Seyffart noted a trend in S-1 form amendments among issuers, suggesting a coordinated effort to meet regulatory requirements and prepare for potential launches.
- Bitwise plans to waive its management fee on the first $500 million its fund attracts in an initial period.
- This fee waiver strategy is being mirrored by other ETF hopefuls to entice initial investors and reduce entry barriers in a competitive market.
- Eric Balchunas, a senior ETF analyst at Bloomberg, reported encouraging minimal feedback from the SEC on recent filings, indicating a potential smooth approval process.
Awaiting Final Approvals
The SEC’s methodical pace with final approvals has left some analysts surprised despite the lack of significant commentary.
Balchunas speculated on possible reasons for the delay, but all signs continue to point towards an Ethereum ETF launch this month.
The anticipation surrounding Ethereum ETFs has affected the crypto market, with Ethereum’s price fluctuating in response to developments, hovering around $3,270 as of recent reports.
Market participants are eagerly anticipating the SEC’s final approvals on the S-1 filings, with some sources hinting at a potential green light by the end of the week.
Hot Take: Stay Tuned for Ethereum ETF Launch
Get ready for the launch of Ethereum ETFs, as the market gears up for potential trading to commence in the coming weeks.
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