Bitwise CCO Katherine Dowling announced that spot Ethereum ETFs are “close to the finish line,” noting the SEC’s openness to discussing new products. Speaking to Bloomberg on July 9, Dowling mentioned that each S-1 amendment addresses fewer issues, signaling an imminent launch.
Dowling reiterated SEC chair Gary Gensler’s commitment to full approval of issuers’ registration statements over the summer but acknowledged an undefined timeline. Bitwise aims to differentiate itself from giants like BlackRock and Fidelity by leveraging its specialization in crypto.
Bitwise’s latest amendment was submitted on July 3, with others meeting a July 8 deadline. Some details, such as sponsor’s fees, are yet to be added. Dowling confirmed positive discussions with the SEC about future products but admitted approval might require a new SEC chair.
Bitwise’s unique position as a crypto specialist sets it apart, promising a more focused approach. This specialization could accelerate market acceptance and innovation in crypto ETFs.
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Long-term, Bitwise’s strategy could lead to quicker and more specialized crypto product approvals, benefiting the broader market.
