Bitwise continues to update S-1 filings, Bloomberg predicts Ethereum ETF will open for trading soon
Ethereum ETF applicants have begun updating their S-1 filings, with the hope of being approved by the committee soon.
Bitwise continues to update S-1 filings, Bloomberg still predicts Ethereum ETF will open for trading soon
After having their filings returned by the SEC last week, Wall Street organizations proposing to create an Ethereum ETF have begun to submit information before the new deadline of July 8.
The first name is Bitwise, with the submission of an S-1 filing update to the US Securities Commission (SEC) early this morning (July 4). The company said it will waive ETH ETF trading fees for the first 6 months with a maximum asset value of $500 million.
No one really knows why the SEC is taking their sweet time with these, given how light comments were, these could have easily been traded 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
As reported, the SEC in mid-May unexpectedly preliminarily approved 8 Ethereum spot ETF proposals, despite previously remaining silent and even hinting at the possibility of investigating ETH with securities allegations. However, the commission still needs to agree with all information provided by ETF issuers to allow these products to be traded on US stock exchanges.
Bloomberg analyst Eric Balchunas commented that there are very few obstacles to the approval of an Ethereum ETF at this time, the problem may lie with one or two organizations because this is the National Day holiday period. America.
Mr. Balchunas predicted in late June that the SEC could approve an Ethereum ETF earlier this month, but that scenario ultimately did not happen.
However, the Bloomberg analyst still maintains his view that the market will witness the appearance of an Ethereum ETF this July.
Previously, SEC Chairman Gary Gensler confirmed that the Ethereum ETF approval process is still going smoothly, but did not announce when official trading would be allowed.
