Bitwise Asset Management recently submitted a revised S-1 form to the Securities and Exchange Commission (SEC) for its proposed Ethereum exchange-traded fund (ETF). This filing was completed on Wednesday, just before the July 8 deadline. According to Bloomberg ETF analyst James Seyffart, Ethereum ETFs, including Bitwise’s, may start trading within the next two weeks following this development.
On May 23, the SEC approved 19b-4 forms for eight spot Ethereum ETFs, including Bitwise’s product. However, for trading to begin, issuers must also have their S-1 statements approved. Bitwise’s updated S-1 includes several changes, notably a fee waiver for the first $500 million in assets under management. The firm has yet to disclose the fee structure beyond this threshold, aiming to attract initial investors with competitive pricing.
Competitors like VanEck are also offering fee waivers, indicating a competitive environment among these new investment instruments. This proactive approach suggests companies are preparing for entry into the market. Bloomberg’s James Seyffart highlighted that multiple issuers are expected to file amended S-1 forms throughout the week, showing a coordinated effort to meet regulatory requirements.
Also read: SEC Requests Feedback on Bitwise and Grayscale Bitcoin ETF Choices
