Bitwise COO: Ethereum ETF is about to be approved, SEC is open to new funds

Bitwise Chief Operating Officer Katherine Dowling said that the spot Ethereum ETF is “close to the end”, while noting that the U.S. Securities and Exchange Commission (SEC) is “quite welcoming” other related products.

On July 9, Dowling told Bloomberg that the SEC and ETF issuers had fewer problems with this S-1 revision, indicating that the ETF rollout is nearing completion.

Dowling affirmed SEC Chairman Gary Gensler’s statement that the agency will fully approve issuers’ registration statements in the summer.

It’s worth noting that she describes an open time frame. Dowling said: "Everyone has a different definition of summer. For issuers who are waiting, this summer is a bit too long."

Dowling added: "The Bitwise program distinguishes itself from applicants such as BlackRock and Fidelity Kailai, positioning itself as a 'Crypto asset expert' and continuing to focus on the industry in the future."

Bitwise submitted the latest amendment on July 3, and some other applicants also submitted it on July 8. Updated documents submitted before deadline.

Dowling also said that Bitwise has communicated with the SEC about potential new products “coming soon.” She mentioned, "I think our communication with the SEC about the prospects of these products will be very welcome."

However, Dowling also agreed with Bloomberg ETF analyst Eric Balchunas' view that some products may only be available in Approval can only be obtained under the leadership of the new SEC Chairman.

She added: "Otherwise, based on the history of previous product approvals and the lack of future market base for potential products, it may take a considerable time to bring these products to market."

Dowling did not disclose the names of the products in question. Currently, the only other spot Crypto ETFs pending approval are VanEck and 21Shares’ spot Solana (SOL) ETF.

As of now, Bitwise has not applied for similar products.

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