Bitwise Amends Ethereum ETF S-1, Experts Forecast July Launch
Ethereum ETF S-1 Amended by Bitwise: July Launch Expected – Bitwise, an asset management firm, has amended its S-1 registration with the U.S. Securities and Exchange Commission (SEC) to list and trade shares of a spot Ether exchange-traded fund (ETF).
Bitwise Files Early S-1 Update with SEC, Eyes Imminent Ether ETF Launch
In a filing on July 3 with the SEC, Bitwise updated its Form S-1 registration statement ahead of schedule, including a six-month fee waiver for up to $500 million. While the filing didn’t specify a launch date for listing and trading on NYSE Arca, it indicated it would happen “as soon as practicable after the effective date” of the registration.
According to Bloomberg ETF analyst Eric Balchunas, Bitwise filed the amended S-1 ahead of a July 8 deadline, hinting at potential trading starting post the U.S. Independence Day holiday. Balchunas noted the SEC was taking its time to finalize approvals for spot Ether ETFs, but “all signs point to a launch still being on track for this month.”
SEC Approval Saga: Bitcoin vs. Ether ETFs
- Since May 23, eight asset managers, including Bitwise, have had their spot Ether ETF 19b-4 filings approved.
- Crypto-focused investors have eagerly awaited an SEC release date following these approvals.
- SEC Chair Gary Gensler indicated in a June Senate Banking Committee hearing that S-1 approvals for such ETFs could occur “sometime over the course of this summer,” but no specific date was given.
- In January, the SEC approved 194-b filings and effective S-1 prospectuses for investment vehicles tied to Ether, in contrast to the approvals for spot Bitcoin ETFs.
Bitwise initially filed its S-1 with the SEC for shares of a spot Ether ETF in March amidst speculation that the regulator might classify ETH as a security—court filings in June suggested the commission subsequently dropped the matter.
FAQ
What did Bitwise amend in its S-1 registration with the SEC?
Bitwise, an asset management firm, updated its Form S-1 registration statement to include provisions for listing and trading shares of a spot Ether exchange-traded fund (ETF). The amendment also included a six-month fee waiver for transactions totaling up to $500 million.
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