- Eight US-based spot Ether ETFs are approaching readiness, but launch dates are still unconfirmed.
- SEC Chair Gary Gensler indicates a potential summer launch for spot Ether ETFs, timing remains vague.
- Bitwise anticipates up to $15 billion in inflows for these ETFs in the first 18 months.
The journey towards the launch of several United States-based spot Ether exchange-traded funds (ETFs) is nearing completion, although a definitive launch date is still up in the air. Bitwise’s chief compliance officer, Katherine Dowling, shared insights, indicating that recent communications with the Securities and Exchange Commission (SEC) have shown promising progress.
During an interview with Bloomberg, Dowling noted that revisions to the S-1 registration documents have seen diminishing queries from the SEC, signaling that hurdles are being effectively cleared. These documents are crucial as they detail the issuer’s intentions and the specifics of the securities to be offered.
The anticipation builds as SEC Chair Gary Gensler hinted at a potential summer launch for these ETFs. However, Dowling reflected on the ambiguous nature of this timeline, recognizing the anxiety among issuers who are eager to see their products go live.
Anticipated Impact and Further Developments
Once these ETFs launch, they are expected to significantly impact the market. Bitwise’s chief investment officer, Matt Hougan, estimated that these spot Ether ETFs could draw approximately $15 billion in inflows within their first 18 months, paralleling the success seen with spot Bitcoin ETFs.
Beyond Ether, discussions between Bitwise and the SEC have also touched on potential products tied to other cryptocurrencies. The SEC’s openness to expanding beyond Bitcoin and Ether has been a positive signal for the industry, fostering a collaborative regulatory atmosphere.
Meanwhile, on another front, applications were filed by the Chicago Board Options Exchange (CBOE) to list spot Solana ETFs, although confidence in approval under the current administration is low. This skepticism was echoed by Bloomberg’s senior ETF analyst, Eric Blachunas, who speculated on the potential outcomes depending on upcoming political shifts.
