Bitwise, an asset management firm, has made changes to its S-1 registration with the SEC in order to list and trade shares of a spot Ether ETF. The amendment, filed on July 3, included a fee waiver for up to $500 million and did not specify a launch date on NYSE Arca. However, it mentioned that the listing and trading would occur shortly after the effective date of the registration.
Bloomberg ETF analyst Eric Balchunas stated that Bitwise filed the amended S-1 ahead of the July 8 deadline, indicating that trading could begin after the Independence Day holiday. Balchunas noted that the SEC was taking its time in approving the spot Ether ETFs but suggested that the launch was still scheduled for this month.
Since the approval of spot Ether ETF 19b-4 filings from eight asset managers, including Bitwise, investors have been eagerly anticipating a release date from the SEC. In a June Senate Banking Committee hearing, SEC Chair Gary Gensler mentioned that the commission could approve the S-1s sometime during the summer, without specifying a specific date.
In contrast to Ether-related investment vehicles, the SEC approved 194-b filings for spot Bitcoin ETFs and effective S-1 prospectuses in January. Bitwise filed its S-1 for shares of a spot Ether ETF in March, amid speculation that the SEC was considering labeling ETH as a security. However, court filings in June suggested that the commission had dropped the matter.
Source: U.S. Securities and Exchange Commission