Bitwise has filed paperwork for a spot Ethereum ETF with the Securities and Exchange Commission (SEC) amid growing uncertainty surrounding the approval timeline for such a financial product.
Earlier this month, Bitwise CIO Matt Hougan suggested that it might be better to delay approval for a spot ether ETF until after May.
Despite ongoing speculation, Bitwise went ahead with its S-1 filing for the Bitwise Ethereum ETF, filed with the SEC on Thursday. This decision is consistent with Hougan’s comments highlighting the potential for approval delays, especially considering the SEC’s future evaluation of the pending application for a spot ether ETF.
Similar to the successful launch of the spot Bitcoin ETF in January, there was initially optimism about the prospect of a spot Ether ETF being approved, but Bloomberg ETF analysts recently estimated that the chances of approval in May were lower at around 30%.
The emergence of a spot Bitcoin ETF saw significant trading volume in excess of $150 billion and was generally considered a success. However, uncertainty persists regarding the SEC’s position on spot Ethereum ETFs, further complicating the approval process.
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