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Ethereum ETF Approval Imminent Says Bitwise Executive, Sparking Investor Interest This Summer

Ethereum ETF approval imminent, says Bitwise, expected to drive market growth.

Wed, 10 Jul 2024, 02:23 am UTC

Bitwise executive Katherine Dowling believes the approval of Ethereum ETFs is imminent, promising to boost market inflows.

Ethereum ETFs Nearing SEC Approval, Bitwise Executive Reports

According to Katherine Dowling, Chief Compliance Officer of Bitwise, there is reason to be optimistic about the possibility of spot Ethereum exchange-traded funds (ETFs) being approved in the United States.

Following closely on the heels of spot ETFs S-1 modifications that issuers submitted to the Securities and Exchange Commission (SEC), this comes as a result, per Coingape. Users of cryptocurrencies are waiting for possible authorization to spur inflows into the market.

As per the Chief Compliance Officer of Bitwise, Ethereum exchange-traded funds are getting very close to their debut. She highlighted the current quo, including other advancements with the banking regulator, in an interview that was conducted by Bloomberg on a recent occasion.

Ethereum ETFs to Compete with Bitcoin for Market Inflows

In response to the assertion that Ethereum is a more difficult asset to sell than Bitcoin, Dowling provided a negative response, pointing out that the asset has its own market structure.

Additionally, she stated that products can be promoted in addition to currencies that are used to purchase items, that technological developments with Bitwise are strengthening investment education efforts, and that this is all possible.

Recent events have resulted in all possible ETF issuers submitting their updated S-1 forms to the SEC. Among the provisions of the Bitwise filing is the waiver of the sponsor for assets worth $500 million.

Multiple Issuers to Strengthen Crypto Market

Adding that the organization distinguishes itself as the crypto market specialist, the Bitwise executive mentioned that it is beneficial for investors to have many issuers get licensed at the same time. In order to highlight the business's strengths, she referred to the efforts that were made with traders and other market aspects.

Similar thoughts are held by a number of cryptocurrency users regarding the advantages of having a varied range of ETF issuers. When these items are introduced to the market, it will create a new investment window, which will in turn encourage investment in the market.

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