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Hopium For Crypto Investors As Bitwise Executive Claims Ethereum ETFs Are ‘Close To The Finish Line’

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In Dowling's interview with Bloomberg, she also stated that the SEC is 'quite welcoming' regarding other possible ETF products.

Bitwise Chief Business Officer Katherine Dowling said that spot Ethereum ETFs are “close to the finish line,” as it is expected to go live in a few weeks, hopefully this summer.

In the interview with Bloomberg on 9 July 2024, Dowling said,  “We’re seeing in the S-1 amendments that are filed that there are fewer and fewer issues that are being vetted back and forth between issuers and the SEC.”

SEC chair Gary Gensler’s previously said that the Ethereum ETFs would go live “some time over the Summer.” On this, Dowling noted that “Everyone has a different definition of summer. It’s been a little bit of a long, hot summer for the issuers waiting for that”.

RELATED: Will Ethereum ETF Approval Decision Meet The Reuters July 4th Deadline?

The SEC is tasked with approving both filings for the spot Ethereum ETFs to be legally sold to investors. This process ensures regulatory compliance and instills a sense of security and legitimacy among potential investors, paving the way for a broader acceptance of Ethereum and other digital assets in the financial market.

Read more: Will the SEC Approve Spot Ethereum ETFs Soon? (Don’t Miss This)

SEC Open To Future Crypto ETF Products –  More Likely If Gensler Is Replaced In January

The Bitwise CBO also said that the firm has spoken to the SEC about potential new products. She described the conversation as a positive one and said, “I think our communication with the SEC about the prospects for these products has actually been quite welcoming.”

Bloomberg ETF analyst, Eric Balchunas had previously said that future products may only be entertained under a new SEC chair. Dowling agreed and said, “As Eric pointed out, some of those new products may have to wait on a new as you see cfe2hair if that turns that comes to turn in January (If there is a new president in the White House following the November elections).

Otherwise, she said”it could take considerable time to bring the products to market due to the history of previous product approvals and the lack of future markets underlying the potential products.”

Dowling has not specified what future products she has in mind following the Bitcoin and Ethereum ETFs. As it stands, the only other known pending spot crypto ETFs are for Solana (SOL). They were recently filed by VanEck and 21Shares.

Read more: What are Bitcoin ETFs? A Beginner’s Guide (Updated 2024)

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.

Alex is an aspiring writer focusing on the more degen side of the crypto world. Always on the lookout for the next hot narrative.

View all Posts by Alex

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