Updated: March 28, 2024, 3:30 PM EDT
Bitwise has applied for the right to launch a spot ether exchange-traded fund, as questions continue to hover over whether the Securities and Exchange Commission will be able to approve such a product.
Bitwise submitted Form S-1. Because of something called Bitwise. Ethereum ETH
+2.08%
At one point, market observers were confident that a spot Ether ETF would get approval since the spot Bitcoin ETF began trading in January. The newly launched product was considered a huge success, generating over $150 billion in transaction volume.
Spot Ether ETF’s Chances Gloom in May
However, Bloomberg ETF analysts recently estimated the possibility of a spot offering. Ethereum exchange traded fund The approval rate is expected to reach around 30% in May.
Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.
© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.
About the author
RT Watson is a senior reporter at The Block, covering a variety of topics including US-based companies, blockchain games, NFTs, and more. He previously covered entertainment for The Wall Street Journal and has covered companies including Disney, Netflix, and Warner Bros. and the creator economy, with a primary focus on technological innovation across media. Previously, she covered corporate, economic and political news in Brazil at Bloomberg. She interviewed a wide range of figures for RT, including CEOs, media moguls, top influencers, politicians, blue-collar workers, drug traffickers, and convicted criminals. She holds a Master’s degree in Digital Sociology.