Bitwise Executive Says Ethereum ETF Is Close to the Finish Line
Highlights
- Bitwise executive says approval of ETH ETFs is close to the finish line.
- She added that competition among issuers is good for the market.
- These funds are expected to see inflows as institutional investors' sentiment spikes.
Katherine Dowling, the Chief Compliance Officer of Bitwise has expressed optimism on a near approval of spot Ethereum ETFs in the United States. This comes on the heels of spot ETFs S-1 amendments filed by issuers to the Securities and Exchange Commission (SEC). Crypto users await possible approvals to drive inflows in the market.
Bitwise Executive Points to Approvals
Bitwise CLO Katherine Dowling stated that Ethereum ETFs are close to the finish line of the launch. In a recent Bloomberg interview, she highlighted the status quo including other developments with the financial regulator. Responding to talks of Ethereum being a harder-to-sell asset than Bitcoin, Dowling answered in the negative noting that the asset has its market structure.
“It is explainable, not as easily explainable as the qualities of Bitcoin, but we are six months behind here and close to a launch of these spot ETH ETFs. Chair Gensler said it’s gonna be sometime over the summer; everyone has their different definitions of summer… but we’re seeing in the S-1 amendments that there are fewer issues vetted back… that points to all signs that we are close to the finish line of the launch.”
Furthermore, she added that products can be marketed more than currencies used to buy items but technology innovations with Bitwise increasing investment education efforts. Recently, all potential ETF issuers filed their amended S-1 with the SEC. Bitwise filing includes waiving the sponsor for $500 million in assets.
Competition Good For The Market
The Bitwise executive noted that it is great for investors for multiple issuers to get approved at once adding that the company sets itself apart as the crypt market specialist. Highlighting the company’s strengths, she pointed to efforts with traders and other market factors. Several crypto users also share similar sentiments on the benefits of diverse ETF issuers. The launch of these products will drive investment in the market as it opens up a new investment window.
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