Spot Ether ETF Listing: SEC Files Bitwise Files

Bitwise, an asset management firm, has submitted a request to the United States Securities and Exchange Commission (SEC) to allow them to list and trade shares of a spot Ethereum (ETH) exchange-traded fund (ETF). This move comes as the SEC is considering whether or not to classify Ether as a security, which could impact the future availability of spot ETFs. Bitwise’s filing, made on March 28, is a Form S-1 registration statement. The company plans to list shares of its Ethereum ETF on the NYSE Arca, as indicated in their 19b-4 amendment filing with the SEC. It is worth noting that earlier this year, Bitwise received SEC approval for listing and trading shares of their spot Bitcoin (BTC) ETF.

VanEck’s investment vehicle is the first to have its spot ETH ETF application reviewed, with a final decision from the SEC expected on May 23. Many experts were initially optimistic about the approval of these applications in 2023, but there are now concerns that the SEC may deny them in 2024. Several other firms, including Fidelity, Hashdex, and ARK 21Shares, have pending applications for spot ETH ETFs awaiting approval or denial. In the meantime, the SEC has already given the green light for investment vehicles tied to Ether futures, starting from October 2023.