Ether ETFs “Close to the Finish Line”? Here’s What Comes First

Bitwise CCO Katherine Dowling weighs in on the timeline for Ether ETFs launch.

Hand holding Ethereum coin and asking when is ETF?
Created by Kornelija Poderskytė from DailyCoin
  • Bitwise CCO Katherine Dowling has weighed in on the timeline for Ether ETFs launch.
  • Dowling’s comments come as issuers have recently turned in another batch of amendments.
  • Even after registration statements are approved, a few processes must be sorted before Ether ETF trading can start.

The SEC has become an unlikely hero for crypto in 2024. The agency’s landmark decision to approve spot ETFs for Bitcoin in January has led to the injection of billions of dollars into the market, which has played a vital role in the sector’s resurgence.

Following this decision, in May 2024, the SEC also surprisingly approved a rule change allowing issuers to offer spot Ethereum ETFs. Nearly two months later, however, these products have yet to go live for trading as prospective issuers continue to work on registration statements called S-1 filings with the SEC.

Sponsored

As the anticipation builds, an executive of one of these issuers has suggested that the end of the wait is almost in sight.

Ether ETF Launch in Sight?

Bitwise Chief Compliance Officer Katherine Dowling has offered insights on the progress of the S-1 filing process between issuers and the SEC. In a Tuesday, July 9 Bloomberg TV interview, Dowling suggested that the process was near its end.

“We are close to the finish line for launch,” Dowling told Bloomberg Wall Street correspondent Sonali Basak and Senior ETF analyst Eric Balchunas about pending Ether ETFs.

Dowling expressed this view, noting that “fewer and fewer issues” were being addressed in S-1 amendments recently submitted by issuers, including Bitwise.

Sponsored

While all the focus is currently on registration statements, a few steps still have to be completed even after they are approved by the SEC for trading to start.

What Will Happen Before Ether ETF Trading

Once the S-1 filings are approved, issuers must still submit applications to exchanges for listing. At this point, the exchange must confirm that the ETF meets listing requirements.

After listing, the market maker would set the price for the ETF shares based on the underlying asset’s value, and then, the ETF would finally go live for trading. Judging by the Bitcoin ETF launch in January, these processes can take anywhere between a few hours and a day.

Earlier this week, ETF Store President Nate Geraci disclosed that he expected S-1 approvals within two weeks.

On the Flipside 

  • There is no deadline for the SEC to approve S-1 filings.

Why This Matters

The Bitwise CCO’s comments further highlight progress being made in launching spot Ethereum ETFs, which promise to bring billions of dollars into the market and potentially drive up ETH’s price.

Read this for more on Ether ETFs:
Ethereum ETF Amendments Roll in Ahead of “Informative Week”

See how the TON Layer 2 move benefits Polygon:
How TON-Based Layer-2 Boosts Polygon’s (MATIC) Connectivity Dream

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Okoya David

David Okoya is a crypto news reporter at DailyCoin based in Nigeria. He covers various topics related to the cryptocurrency industry, including exchanges, regulations, and price movements, and strives to bring fresh angles to breaking news. With experience as a freelance crypto news writer, David upholds the highest journalistic standards, telling complete stories and answering lingering questions whenever possible.