Bitwise Nears Launch of Ethereum ETF Amid Intense Market Anticipation

• Bitwise’s amended S-1 form indicates its Ethereum ETF is nearing launch, with analysts predicting listings within two weeks.
• The SEC’s approval of 19b-4 forms for eight Ethereum ETFs on May 23 sets the stage for Bitwise’s anticipated mid-July launch.
• Bitwise and VanEck waive initial fees to attract investors, reflecting competitive strategies and proactive regulatory compliance.

Bitwise has amended its S-1 form for its Ethereum ETF just days before its July 8 deadline. This update suggests the product is almost ready for launch. Analysts predict these ETFs could start listing within two weeks. Consequently, the market eagerly awaits the launch of Bitwise’s Ethereum ETF.

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The updated registration form was submitted on Wednesday. Analysts believe these products could be listed by mid-July. A source close to the situation indicated the SEC might approve the final drafts by the end of next week.

SEC Approval Process and Market Implications

The SEC approved 19b-4 forms for eight spot Ethereum ETFs, including Bitwise, on May 23. However, issuers need their S-1 statements to become effective before trading can begin. This two-step process has kept the market in anticipation.

Despite light comments on the S-1 forms, the SEC has taken its time with approvals. A single problematic issuer may need to be on time to process. Nevertheless, expectations remain high for a launch this month.

Bloomberg ETF analyst James Seyffart noted the frequent amendments in S-1 forms. He expects more filings from other issuers throughout the week. This pattern suggests a coordinated effort to meet regulatory requirements.

Senior Bloomberg ETF analyst Eric Balchunas expressed surprise at the SEC’s slow pace. He speculated on possible reasons, including summertime vacations. Despite this, he confirmed indications of a launch this month.

Competitive Strategies and Fee Waivers

Bitwise made updates to its S-1 form. One notable change includes waiving the sponsor fee for the first $500 million in assets. However, the firm still needs to disclose the fee after this threshold.

Another issuer, VanEck, also announced that fees would be waived initially. These moves suggest competitive strategies to attract initial investors. By waiving fees, these firms aim to lower the entry barriers for new investors.

The amendments highlight Bitwise’s proactive approach to regulatory compliance. The firm’s updates reflect a strategic positioning ahead of the anticipated market entry. This aligns with the broader trend among issuers to streamline their offerings.

Bitwise’s latest move signals its readiness to launch its Ethereum ETF. The market now looks to the SEC for final approval. Consequently, investor anticipation continues to build as the expected launch date approaches.

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