Bitwise CEO Hints At Major Announcement, Spot Ether ETF Launch Likely By July 4

Bitwise CEO Hints At Major Announcement, Spot Ether ETF Launch Likely By July 4

PENGY June 20, 2024, 9:02 am Facebook Twitter


Bitwise CEO Hints At Major Announcement, Spot Ether ETF Launch Likely By July 4

Bitwise CEO Hunter Horsley on Thursday said there will be a major announcement by Bitwise Invest tomorrow. Bitwise recently filed an amended spot Ethereum ETF S-1 to disclose a $2.5 million seed investment and Pantera’s interest in putting $100 million in the Ether ETF.

Bitwise Likely Making An S-1 Filing For Spot Ethereum ETF

Hunter Horsley, chief executive officer of Bitwise Invest, took to X on June 20 and revealed a big announcement coming from the company. He said “Keep an eye on Bitwise Invest tomorrow. Something cool.”

While Horsley’s post didn’t mention enough details or points to another S-1 amendment to spot Ethereum ETF, experts believe it will be related to Ether ETF.

Nate Geraci, president of ETF Store, said a flurry of spot Ethereum ETF S-1 amendments are coming on Thursday and Friday. He believes there’s nothing left for the U.S. SEC to address or comment on as per details in the Bitwise S-1 recent filing.

Geraci thinks spot Ethereum ETF will launch before July 4 as SEC Chair Gary Gensler hinted at the approval of Ether ETFs before the end of summer. The SEC has also closed its Ethereum investigation, clearing the way for a potential listing and trading of spot Ether ETFs on exchanges.

He expects Bitwise to reveal fees for its spot Ether ETF on Friday. The company charges a 0.20% management fee for Bitwise Bitcoin ETF (BITB).

Also Read: Are Solana, Cardano, Polygon Commodities As US SEC Ends Ethereum Investigation?

Rise in Interest in Spot Ether ETFs

Consensys disclosure about the SEC ended its investigation into Ethereum resulted in a broader crypto market recovery, with ETH price rebounding above $3,500. It indicates a massive interest in the spot Ethereum ETF and expected a similar interest from institutional investors.

ETH price jumped 1% in the past 24 hours, with the price currently trading at $3,586. The 24-hour low and high are $3,513 and $3,589, respectively. Furthermore, the trading volume has decreased by 28% in the last 24 hours, indicating a decline in interest among traders.

However, ETH price can rise further amid S-1 filings by spot Ethereum ETFs. It could bring a potential rebound in the broader crypto market and most likely an altcoin season.

Also Read: VanEck Bitcoin ETF Debuts on Australian Stock Exchange ASX, Will It Get US-Like Response?

The post Bitwise CEO Hints At Major Announcement, Spot Ether ETF Launch Likely By July 4 appeared first on CoinGape.

PengyOS - Let's Make Penguins Fly
PengyOS was started by a small community of crypto enthusiasts who believe that penguins should have a seat on the meme coin throne next to dogs and frogs. Solana Contract : B8vV6An7xFF3bARB1cmU7TMfKNjjes2WvY7jWqiRc6K6

Crypto Bubbles
Disclaimer
WARNING: The content on this site should not be considered investment advice. Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence.

LEAVE A REPLY

Your email address will not be published.