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Home»ADOPTION NEWS»An Ethereum ETF could launch next week as Bitwise files an amended S-1 early
ADOPTION NEWS

An Ethereum ETF could launch next week as Bitwise files an amended S-1 early

By Crypto FlexsJuly 4, 20243 Mins Read
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An Ethereum ETF could launch next week as Bitwise files an amended S-1 early
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Company • July 3, 2024 4:00 PM EDT

Posted 1 minute earlier In ~

Asset manager Bitwise has filed a revised Form S-1 for its Ethereum exchange-traded fund (ETF) just days ahead of the July 8 deadline, appearing to indicate the product is close to launch.

Bitwise has submitted an updated registration. form Some analysts say the products could be listed within the next two weeks, with an announcement expected on Wednesday. A source close to the situation said the SEC has not said when the final draft will be out, but it could receive approval from the agency by the end of next week.

“We have another revised S-1. @Bitwise Invest their #ethereum “ETFs,” said Bloomberg ETF analyst James Seyffart. post Regarding X. “Expect more from other issuers throughout the week. We think these could potentially be listed late next week or as early as the 15th.”

Securities and Exchange Commission (SEC) Approved Form 19b-4 for eight spot Ethereum ETFs, including Bitwise, on May 23. Issuers still need to have a valid S-1 statement before they can begin trading as part of the two-step process.

“Nobody knows why the SEC is wasting their time on this. Given how light the comments were, this could easily have been traded by now. Maybe one of the ‘problem’ issuers is slowing down the process, maybe they’re lazy over the summer, maybe they’re on vacation. I don’t know,” said Eric Balchunas, senior analyst at Bloomberg ETFs. post About X. “That said, all the metrics are still rolling out this month. We’ll have more details next week.”

block Previously reported The SEC has returned Form S-1s to several potential Ethereum ETF issuers with “light comments” in its final feedback round.

I made a few of these bit by bit. change The form added that it would waive sponsorship fees on the first $500 million in assets. The company has not yet disclosed how much the fee will be. Van Eck They also initially announced that they would waive the fees.

Tim Copeland contributed reporting.


Disclaimer: The Block is an independent media outlet providing news, research and data. As of November 2023, Foresight Ventures is the largest 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 on the cryptocurrency industry. Current financial disclosures include:

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be legal, tax, investment, financial or other advice.

About the Author

Zack Abrams is a writer and editor based in Brooklyn, New York. Before coming to The Block, he was a senior writer at Coinage, a Web3 media outlet covering the biggest stories on the Web3. The story he co-reported with Do Kwon won SABEW’s 2022 Best Business Journalism Award. Other projects include an in-depth look at SBF’s defenses based on exclusive documents and revealing the identity of the hacker behind one of the largest cryptocurrency hacks of 2023. You can reach him at X @zackdabrams or email (email protected).

Sarah is a reporter covering policy, regulation, and legal issues for The Block. Previously, Sarah was a securities regulation reporter at CQ Legal, where she first began reporting on cryptocurrencies. Sarah has also written for other financial publications, including The Bond Buyer and American Banker. She graduated from the University of Missouri with a degree in print and digital journalism. Sarah lives in Washington, D.C., and is an avid coffee drinker. You can follow her on Twitter @ForTheWynn.

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