Bitwise COO: ETH ETF is about to be approved, SEC has an open attitude towards new funds

Bitwise COO Katherine Dowling said that the SpotETH ETF is ‘approaching the finish line’ and also noted that the US Securities and Exchange Commission (SEC) is ‘quite welcoming’ of other related products.

On July 9th, Dowling told Bloomberg that there were fewer issues with the SEC and ETF issuers in this S-1 revision, indicating that the launch of the ETF is nearing its end.

Dowling affirmed SEC Chairman Gary Gensler’s statement that the agency will fully approve issuers’ registration statements in the summer.

It is worth noting that she described an open timeframe. Dowling said, “Everyone has a different definition of summer. For the waiting publishers, this summer is a bit too long.”

Dowling added, “Bitwise plans to differentiate itself from applicants such as BlackRock and Fidelity by positioning itself as a ‘Crypto Asset Expert’ and continuing to focus on this industry in the future.”

Bitwise submitted the latest amendment on July 3, and other applicants also submitted updated documents before the deadline on July 8.

Dowling also stated that Bitwise has communicated with the SEC about the “upcoming” potential new products. She mentioned, “I think the communication we have had with the SEC about the prospects of these products will be very well received.”

However, Dowling also agrees with Bloomberg ETF analyst Eric Balchunas’ view that some products may only be approved under the leadership of the new SEC chairman.

She added, “Otherwise, based on the historical approval of previous products and the potential lack of future market foundation for these products, it may take quite a long time to bring these products to the market.”

Dowling did not disclose the name of the related product. Currently, the only other pending SpotCrypto ETFs are VanEck and 21Shares’ SpotSolana (SOL) ETF.

As of now, Bitwise has not applied for a similar product.