Updated: March 28, 2024, 3:30 PM EDT
Bitwise has applied for the right to issue a Spot Ether exchange-traded fund, despite questions swirling about when the Securities and Exchange Commission will give the green light to such a product.
Bitwise files S-1 form Thursday in collaboration with the SEC on something called the Bitwise Ethereum ETF. The move follows comments made by the company's CIO Matt Hogan earlier this month. It might be better if the SEC does not approve the new product in May, when the SEC is scheduled to approve or deny the first pending application for a Spot Ether ETF.
At some point, market participants were confident that the Spot Bitcoin ETF would be approved, given that it began trading in January. Newly issued products generated more than $150 billion in trading volume for him and are largely hailed as a success.
Potential for Spot Ether ETF in May fades
However, a Bloomberg ETF analyst recently estimated the potential for spot. Ethereum exchange traded fund In May, it had about 30% support.
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