.jpg)
- The launch of the ETH ETF is now closer than ever as issuers have begun filing an amended S-1.
- Whales were preparing for launch, suggesting that ETFs will be a major market catalyst in the summer.
Market analysts were waiting for the S-1 (registration statements) to be amended from the potential point Ethereum [ETH] Issuers of ETFs, which is the last step before the SEC approves their launch.
Digital asset manager and potential issuer, Bitwise, initiated this latest move on June 18. I presented to her Amendment S-1 To the agency, but the toll fee is not yet included.
In response to the update, Bloomberg ETF analyst James Seyphart male,
“I believe this filing from @BitwiseInvest is the first of the revised #Ethereum ETF S-1. This will contain the changes from the first round of SEC comments.
The analyst added that Pantera Capital, a venture capital firm focused on cryptocurrencies, was planning to invest $100 million in Bitwise’s ETH ETF product (ETHW).
“Panterra looks set to invest up to $100 million in BitwiseInvest’s Ethereum ETF — $ETHW.”
The venture capitalist reportedly pumped $200 million into Bitwise’s US spot BTC ETF product in January.
Other issuers are expected to file the amended S-1 in the coming days. However, Seyvart male The amendments “may not require additional modifications, but they may require modifications.”
July 4th is the focus on ETH ETF approvals
The analysts, along with colleague Eric Balchunas, confirmed that the products could be approved and launched by the Fourth of July.
Recently, SEC Chairman Gary Gensler Certain That approvals could be possible by summer. Overall, most market watchers expected approval by early July.
However, there have been mixed views on institutional demand for ETH ETF products. Some expect lower demand since the products will no longer have a “staking” feature.
However, Ophelia Snyder, co-founder of digital asset manager 21Shares, said, Maintained The lack of staking will not affect institutional demand.
In fact, the executive added that staking can impact liquidity, especially when the lockup period is extended.
Meanwhile, ETH is up +4% in the past 24 hours and is trading at $3.54K. Moreover, Ethereum Whales They were on the move as they eyed the potential launch of an ETH ETF in early July.
