Asset manager Bitwise has filed an amended S-1 form for an Ethereum exchange-traded fund several days ahead of its July 8 deadline, likely indicating the products are nearly ready for launch.
Bitwise filed its updated registration form on Wednesday as some analysts say those products could begin listing in the next two weeks. A source close to the situation said the SEC hasn't indicated when there would be final drafts, but said it was possible to get the go-ahead from the agency by the end of next week.
"We've got another amended S-1 from @BitwiseInvest for their #Ethereum ETF," said Bloomberg ETF analyst James Seyffart in a post on X. "Expect more from other issuers throughout the rest of the week. We're thinking these things could potentially list later next week or the week of the 15th at this point."
The SEC approved 19b-4 forms for eight spot Ethereum ETFs on May 23, including Bitwise. Issuers still need their S-1 statements to become effective before trading can begin as part of a two-step process.
"No one really knows why the SEC is taking their sweet time with these, given how light comments were, these could have easily been trading by now. Could be one 'problem' issuer slowing down process or just summertime lazy/ppl on vaca. Not sure," said Eric Balchunas, senior Bloomberg ETF analyst in a post on X. "That said, all indications launch still on for this month. More details to come next wk."
The Block previously reported the SEC returned S-1 forms to several prospective Ethereum ETF issuers with "light comments" in what may have been the final round of feedback.
Bitwise made some changes to its form, including adding in that it will waive the sponsor fee for the first $500 million in assets. The firm did not yet disclose what the fee would be. VanEck also said it would waive fees at the outset.
Tim Copeland contributed reporting.
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