Bitwise Chief Operating Officer Katherine Dowling stated that the spot Ethereum ETF is “approaching the end” and also noted that the U.S. Securities and Exchange Commission (SEC) is “quite welcoming” of other related products.
On July 9th, Dowling told Bloomberg that there were fewer issues between the SEC and ETF issuers in this S-1 revision, indicating that the launch of the ETF is nearing its conclusion.
Dowling confirmed SEC Chairman Gary Gensler’s statement that the agency will fully approve the issuer’s registration statement this summer.
It is worth noting that she described an open timeframe. Dowling said, “Everyone has a different definition of summer. For the issuers waiting, this summer has been a bit too long.”
Dowling added, “Bitwise plans to differentiate itself from applicants like BlackRock and Fidelity, positioning itself as a ‘Crypto asset expert’ and continuing to focus on this industry in the future.”
Bitwise submitted its latest amendment on July 3rd, and other applicants also submitted updated documents before the deadline on July 8th.
Dowling also mentioned that Bitwise has been in communication with the SEC regarding the “upcoming” potential new products. She said, “I think the communication we have had with the SEC about the prospects for these products will be very welcome.”
However, Dowling also agreed with Bloomberg ETF analyst Eric Balchunas’ viewpoint that some products may only be approved under the leadership of the new SEC chairman.
She added, “Otherwise, it may take quite some time to bring these products to market based on the history of previously approved products and the potential lack of future market foundation for these products.”
Dowling did not disclose the names of the related products. Currently, the only pending spot Crypto ETFs are VanEck and 21Shares’ spot Solana (SOL) ETF.
As of now, Bitwise has not applied for a similar product.