Ethereum ETFs Set for MidJuly Launch Countdown Begins
In a strategic move, Bitwise Asset Management has updated its S-1 filing with the U.S. Securities and Exchange Commission (SEC) for its anticipated Ethereum ETF, aligning with the regulatory deadline of July 8. Market experts are optimistic, forecasting the potential commencement of Ethereum ETF trading by mid-July.
The SEC’s nod on May 23 for eight spot Ethereum ETFs, including Bitwise’s proposal, marked a significant milestone. However, the final go-ahead hinges on the effectiveness of the S-1 statements. This anticipation has kept the investment community alert and expectant.
Bitwise stands out with its decision to waive management fees for the initial $500 million invested during the launch phase, a tactic mirrored by other contenders like Franklin Templeton and VanEck to entice early investors in a burgeoning market.
The SEC’s minimal feedback on recent submissions hints at a possible swift approval, as noted by Bloomberg’s senior ETF analyst Eric Balchunas. Yet, the SEC’s unhurried pace in granting final approvals has raised eyebrows, with speculation about the reasons ranging from summer breaks to specific issuer-related delays.
The crypto sphere has felt the ripple effects of the Ethereum ETF developments, with Ethereum’s value peaking at approximately $4,000 post the initial 19b-4 form approvals, then settling near $3,270 amid the ongoing approval process.
As the industry awaits the SEC’s conclusive endorsement of the S-1 documents, insider sources suggest a potential approval could arrive by next week’s end, potentially ushering in a new era of trading soon thereafter.
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