Bitwise files S-1 form for its Ethereum ETF – DiarioBitcoin

Analysts of Bloomberg They theorize that this delivery marks the countdown for ETFs Ethereum, whose arrival on the US market could be just a few days away.

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• Bitwise is finalising details for the launch of its ETF Ethereum cash
• I already recorded it before the SEC your latest draft of the form S-1
• Analysts of Bloomberg They agree that this leaves the launch of the product just a few days away.
• The exact date of the launch of the ETFs Ethereum has been handled with great discretion

The first exchange-traded funds (ETFs) of Ethereum in cash are getting closer to arriving every day.

The investment fund management company, Bitwise, filed a new version of Form 1000 with the U.S. Securities and Exchange Commission (SEC) S-1 for your ETF Ethereum in cash, which for some analysts reinforces the thesis that these products will soon reach the US market.

Bitwise in the final stretch for its ETF Ethereum

The precision was made by the analyst of Bloomberg, James Seyffart, who noted that Bitwise has already submitted the corresponding form, and they expect the other administrators to do the same in the coming days:

“We think these things could potentially go public by the end of next week or the week of the 15th at this point.“, Seyffart added.

UPDATE: We’ve got another amended S-1 from @BitwiseInvest for their #Ethereum ETF. Expect more from other issuers throughout the rest of the week. We’re thinking these things could potentially list later next week or the week of the 15th at this point. pic.twitter.com/xqVlt9lSGy

— James Seyffart (@JSeyff) July 3, 2024

While the timing of the Ethereum spot ETFs remains a mystery, both Seyffart and Bloomberg’s Eric Balchunas agree that these reports are evidence that the process is well underway, and that we could be seeing these funds begin trading on the market sooner rather than later.

In this regard, Balchunas commented in a message published on his X account the following:

“No one really knows why the SEC is taking its time with these securities. Given how light the comments were, These could easily have been trading now. It could be a ‘problematic’ issuer slowing down the process or just lazy people in the summer or on vacation. I’m not sure. That said, all indications are that the launch is still on track for this month. More details to follow next week.”

No one really knows why the SEC is taking their sweet time with these, given how light comments were, these could have easily been trading by now. Could be one ‘problem’ issuer slowing down process or just summertime lazy/ppl on vaca. Not sure. That said, all indications launch…

— Eric Balchunas (@EricBalchunas) July 3, 2024

Countdown to ETFs Ethereum

The move of Bitwise comes to place days after the SEC to conduct a final round of feedback for drafts submitted by ETF applicants Ethereum in cash. Sources familiar with the case said that comments and recommendations were minimal this time, so the review process could be nearing its end.

Regarding the exact date of arrival of these products, a report published by Reuters pointed out that the SEC could be about to approve the corresponding forms for the ETFs Ethereum begin to quote, which could happen on July 4th based on how the due process with the applicants has evolved. However, everything seems to indicate that this will take a little longer than the originally projected dates.

Days ago, Balchunas made certain parallels between the process that follows VanEck with its ETF Ethereum and the time when he was in the process of launching his fund based on Bitcoin. He theorized that if certain conditions are met, this product could arrive this month.

In view of the process of the SEC, The agency’s president, Gary Gensler, indicates that this is proceeding as expected. However, the possible market launch date for these funds has been handled with great discretion.

Meanwhile, some managers are already thinking about the next step to take in this market, so VanEck and 21Shares They have already reported to the SEC their respective ETF applications Solarium cash, although the viability of these products is subject to the possible outcome of the upcoming presidential elections scheduled for the end of the year.

Article by Angel Di Matteo / Bitcoin Diary

Picture of Unsplash

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