Bitwise Submits SEC Application for Spot ETH ETF Listing

Bitwise Seeks SEC Approval for Ethereum ETF

Asset management company Bitwise has submitted an application to the United States Securities and Exchange Commission (SEC) for the listing and trading of shares for a spot Ethereum (ETH) exchange-traded fund (ETF).

Bitwise filed a Form S-1 registration statement with the SEC on March 28, seeking approval for shares of its Ethereum ETF. This filing coincides with speculation surrounding the SEC’s classification of Ether as a security, which could affect the potential approval of future spot ETFs.

Bitwise Targets NYSE Arca Listing for Ethereum ETF

According to a 19b-4 amendment filing with the SEC, Bitwise plans to list shares of the ETH investment product on NYSE Arca. This move follows Bitwise’s previous approval from the SEC to list and trade shares of its spot Bitcoin (BTC) ETF in January.

The upcoming deadline for the SEC to approve or reject the latest batch of spot Ethereum (ETH) ETF applications is May 23, beginning with VanEck’s submission. While optimism was widespread for approval in 2023, some now speculate that applications could face denial extending into 2024.

Numerous companies, such as Fidelity, Hashdex, and ARK 21Shares, have pending spot ETH ETF applications awaiting decision. The SEC initiated the approval process for investment products linked to Ethereum futures in October 2023.

Conclusion:

As Bitwise leads the charge toward a new frontier with its SEC application for a spot Ethereum ETF, the investment landscape is poised for significant evolution. The anticipation surrounding the SEC’s decision, particularly with the approaching deadline and the potential classification of Ether, underscores the dynamic and ever-evolving nature of cryptocurrency investments.

For those looking to understand these developments or to start investing in cryptocurrencies like Ethereum, Imperial Wealth Crypto offers a free 30-minute consultation. This session will provide you with expert insights and guidance tailored to navigating the complexities of cryptocurrency investments. Whether you are new to this field or looking to expand your portfolio, our consultation can help you make informed decisions.