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Bitwise says the U.S. Securities and Exchange Commission (SEC) has been open to discussions about cryptocurrency ETFs (exchange-traded funds) beyond bitcoin and ethereum as the launch of spot eth ETFs approaches.
“We've actually had discussions with the SEC about the possibility of what's coming next with new products,” Bitwise chief compliance officer Katherine Dowling said in an interview with Bloomberg on July 9. “I think our communication with the SEC on the outlook for these products has been quite positive.”
<img decoding="async" alt="Study: Potential Spot ETF Approval Is ethereum’s “Strongest Narrative Right Now” – Altcoins bitcoin News” src=”https://static.news.bitcoin.com/wp-content/uploads/2024/01/shutterstock_2389582873.jpg”/><img decoding="async" src="https://static.news.bitcoin.com/wp-content/uploads/2024/01/shutterstock_2389582873.jpg” alt=”Study: Potential Spot ETF Approval Is ethereum’s “Strongest Narrative Right Now” – Altcoins bitcoin News”/>
Still, he added that additional approvals are unlikely unless Gary Gensler is replaced as SEC chairman in January.
ethereum ETFs are about to go live in the US
Dowling also said he believes eight points of the U.S. Ethnicity ETFs could soon be listed on the stock exchange.
“We are seeing in the S-1 amendments that there are fewer and fewer issues being vetted between issuers and the SEC,” he said in the interview with Bloomberg. “We are close to the goal of launch.”
<blockquote class="twitter-tweet” data-width=”550″ data-dnt=”true” wp_automatic_readability=”6.6932773109244″>
Katherine Dowling, Bitwise's chief compliance officer, discusses her firm's Ether ETF application and the potential for new crypto-linked products https://t.co/hKIvliRCnX image.twitter.com/PvMFeG4wWU
— Bloomberg crypto (@crypto) twitter.com/crypto/status/1810765341317816433?ref_src=twsrc%5Etfw”>July 9, 2024
Following the SEC’s approval of several 19b-4 filings on May 23, eth spot ETF applicants have been waiting for the agency to sign off on their S-1 registration statements. Amended versions of these forms were filed earlier this month after the SEC issued its first round of comments.
Bitwise CIO is “excited” about a product that lets investors buy ethereum DeFi
Bitwise has shown interest in offering its own exchange-traded product (ETP) covering ethereum's growing ecosystem of layer-2 networks and decentralized applications, according to the asset manager's chief investment officer, Matt Hougan.
“I feel both embarrassed and excited that Bitwise doesn’t have one, because I think it would be a great product,” Hougan said. saying in an interview in May.
He added that he has “extraordinary confidence” that the ethereum ecosystem will evolve and grow. An eth-focused ETP will also allow investors to “own” a share of all current and future decentralized applications on the ethereum blockchain, Hougan said.
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