<img src="https://cryptoslate.com/wp-content/uploads/2023/09/ethereum-bitwise.jpg” />
Katherine Dowling, CCO of Bitwise, said that ethereum spot ETFs are “close to the finish line” and noted that the SEC is “quite receptive” to discussions about other products.
In July 9thDowling told Bloomberg that the SEC and ETF issuers are addressing fewer issues in each S-1 amendment, pointing to a near-term launch.
Dowling confirmed SEC Chairman Gary Gensler's assertion that the agency will fully approve issuers' registration statements over the summer, but described an open-ended deadline. He said:
“You know, everyone has a different definition of summer. It’s been a bit of a long, hot summer for broadcasters who were hoping…”
Dowling said Bitwise aims to differentiate itself from other applicants, including giants like BlackRock and Fidelity, as a “cryptocurrency specialist” with years of focus on the sector.
Bitwise submitted its most recent amendment on July 3, while many other applicants submitted theirs before July 8. Applicants are still required to add certain details, including sponsor fees, in future amendments.
SEC welcomes further discussions
Dowling also said that Bitwise had spoken to the SEC about potential new products coming soon. He described the conversations positively, stating:
“I think our communication with the SEC on the outlook for these products has been quite positive.”
However, he agreed with Bloomberg ETF analyst Eric Balchunas that some products might only be approved under a new SEC chairman.
Otherwise, he said, it could take a long time to bring products to market because of the history of prior product approvals and the lack of underlying future markets for potential products.
Dowling did not identify the products in question. Currently, the only other outstanding cryptocurrency spot ETFs are VanEck and 21Shares’ Solana (SOL) spot ETFs.
Bitwise has not requested a similar product as of this writing.
