Key Points
- Bitwise Invest CEO, Hunter Horsley, hints at a significant announcement possibly related to the launch of spot Ether ETFs.
- Nate Geraci, president of ETF Store, predicts approval of several spot Ether ETFs before July 4th.
Bitwise Invest’s CEO, Hunter Horsley, has hinted at a significant announcement set for June 20th.
The specifics of this announcement remain unclear, but many in the industry speculate it may concern the long-awaited launch of spot Ether Exchange Traded Funds (ETFs).
Implications of S-1 Filings and Investment Commitments
This speculation follows a series of S-1 filings for spot Ether ETFs, including an amended filing by Bitwise itself.
Bitwise’s amended filing revealed a $2.5 million seed investment and a significant $100 million commitment from Pantera Capital, a respected blockchain investment firm.
Predictions for Spot Ether ETF Approvals
Adding to the speculation, Nate Geraci, president of ETF Store, anticipates a wave of spot Ether ETF approvals before July 4th.
Geraci believes that the U.S. Securities and Exchange Commission (SEC) has addressed all concerns raised in the recent Bitwise filing, leaving little room for further delay.
Geraci’s predictions align with recent comments from SEC Chair Gary Gensler, who hinted at the potential approval of Ether ETFs by the end of summer.
The SEC’s closure of its Ethereum investigation removes a major roadblock for the listing and trading of spot Ether ETFs on major exchanges.
News of the SEC’s closed investigation triggered a broader market recovery, with Ethereum surging past the $3,600 mark.
This surge reflects the immense investor interest surrounding spot Ether ETFs, particularly among institutional players.
Despite a slight dip in trading volume in the past 24 hours, the overall sentiment remains positive.
ETH price currently sits at $3,586, with the potential for further growth fueled by the upcoming S-1 announcements.
Analysts predict a potential rebound in the broader crypto market, potentially ushering in a new altcoin season.
Bitwise Fees and Potential Impact
Market participants eagerly await Bitwise’s announcement, expected to reveal the fees associated with their spot Ether ETF.
As a reference point, the company currently charges a 0.20% management fee for their existing Bitwise Bitcoin ETF (BITB).
With the SEC seemingly clearing the path for approval, the launch of a spot Ether ETF by Bitwise, or any other applicant, could be imminent.
The Ether ETF approval holds the potential to unlock significant investment capital and propel the crypto market to new heights.
