ETF issuer Bitwise rushed to submit the S-1 form for an Ethereum spot ETF just before the U.S. Independence Day holiday. Bloomberg analysts predict other issuers will follow later this week, with the Ethereum spot ETF potentially launching as early as next week.
Bitwise updated their S-1, including fee waivers for the first six months and a maximum asset management scale of $5 billion, though subsequent fees were not disclosed.
Last week, VanEck also reduced fees on their Ethereum ETF to 0.2% after the promotional period, while Franklin Templeton announced fees of 0.19%.
James Seyffart expressed uncertainty regarding the launch date of the Ethereum spot ETF, noting the lack of a deadline in the S-1. He observed minimal changes in the recent S-1 update and questioned why SEC personnel spent so much time on it.
Similarly, Bloomberg analyst Eric Balchunas expressed confusion, suggesting that the ETFs could easily be trading given the limited comments received. He speculated that a “problem” issuer might be slowing the process or that summer laziness or vacations were factors. Nonetheless, signs of this month’s launch remain effective, with more details expected next week.
Bitwise continues to mock traditional finance in their advertisements for the Ethereum spot ETF. Their latest ad features a dialogue between Big Finance, symbolized by someone in a “Blockchain” t-shirt holding a penguin plush, and a casually dressed young person representing Ethereum. Big Finance suggests hanging out and going to the moon together, but when asked if he understands the moon reference, Big Finance admits he doesn’t. This continues Bitwise’s trend of satirizing traditional finance.
(Bitwise advertisement for Ethereum spot ETF featuring NFT)
(Bitwise
S-1
Ethereum spot ETF)
Further Reading:
Bitwise: Ethereum Spot ETF Expected to Attract $15 Billion in Fund Flows
Bitwise Introduces NFT Advertisements for Ethereum Spot ETF