Bitwise CCO says Ethereum ETFs ‘close to finish line’, SEC open to other funds

Bitwise CCO Katherine Dowling said the spot Ethereum ETF is “close to the finish line,” noting that the SEC is “very open” to discussions about other products.

upon July 9Dowling told Bloomberg that the SEC and ETF issuers are dealing with fewer issues per S-1 amendment, suggesting a launch is imminent.

Dowling noted that SEC Chairman Gary Gensler has asserted that the SEC will approve issuers’ registration statements in their entirety over the summer, but that no deadline has been set.

“Everyone has their own definition of summer. For publishers, it’s been a bit of a long, hot summer…”

Dowling said Bitwise plans to distinguish itself from other applicants, which include larger firms such as BlackRock and Fidelity, as “cryptocurrency experts” with a long-standing focus on the sector.

Bitwise submitted its latest amendment on July 3, while many other applicants submitted before the deadline of July 8. Applicants will need to add certain details, such as sponsor fees, in future amendments.

The SEC welcomes other discussions

Dowling also said that Bitwise has had discussions with the SEC about new products that “may be coming.” She described the conversations as positive, saying:

“I think our communications with the SEC about the prospects for these products have actually been very positive.”

But she agreed with Bloomberg ETF analyst Eric Balchunas that some products may only be approved under a new SEC chairman.

Otherwise, it could take a significant amount of time to bring a product to market because there would be no past product approval history or future market to back up a potential product, she said.

Dowling did not specify the product in question.Currently, the only spot cryptocurrency ETF on hold is VanEck and 21Shares’ spot Solana (SOL) ETF.

Bitwise had not filed a similar product at the time of writing.

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