Bitwise, an asset management firm, has submitted a filing to the United States Securities and Exchange Commission (SEC) to seek approval for a spot Ether (ETH) exchange-traded fund (ETF). The filing, made on March 28, aims to address concerns that the SEC may classify Ether as a security, which could hinder future listings of spot ETFs. Bitwise plans to list shares of its ETH investment vehicle on NYSE Arca, following its successful listing of a spot Bitcoin (BTC) ETF in January. The SEC has until May 23 to make a decision on the pending ETH ETF applications, including VanEck’s. While some experts are optimistic about approval in 2023, others speculate that the applications may be denied, extending the timeline to 2024. Notably, firms such as Fidelity, Hashdex, and ARK 21Shares have similar ETH ETF applications awaiting approval or denial. The SEC previously approved investment vehicles linked to Ether futures in October 2023.
Bitwise submits application to SEC for listing Ether ETF