Bitwise CCO Katherine Dowling said spot Ethereum ETFs are “close to the finish line,” while noting that the SEC is “pretty welcoming” to discussions about other products.
On July 9, Dowling told Bloomberg that SEC and ETF issuers are addressing fewer issues in each S-1 amendment, indicating a near launch.
Dowling confirmed SEC Chairman Gary Gensler’s assertion that the agency will fully approve issuers’ registration statements over the summer, but described an open timeframe. She said:
“You know, everyone has a different definition of summer. It’s been a bit of a long, hot summer for the issuers waiting….”
Dowling said Bitwise aims to differentiate itself from other applicants, including giants such as BlackRock and Fidelity, as a “crypto specialist” with years of focus on the sector.
Bitwise filed its most recent change on July 3, while many other applicants submitted their applications on July 8. Applicants will still need to add certain details, including sponsorship fees, in future changes.
SEC welcomes other discussions
Dowling also said Bitwise has spoken to the SEC about potential new products “coming down the pipeline.” She described the conversations positively, saying:
“I think our communication with the SEC about the prospects for these products has actually been very welcoming.”
However, she agreed with Bloomberg ETF analyst Eric Balchunas that some products should only be approved under a new SEC chairmanship.
Otherwise, she said, it could take quite some 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 did not identify the products in question. Currently, the only other spot crypto ETFs under consideration are the spot Solana (SOL) ETFs from VanEck and 21Shares.
At the time of writing, Bitwise has not yet submitted an application for a similar product.