[NEWS] Bitwise files early amendment to S-1; spot Ethereum ETF could be listed as early as next week

US asset management company Bitwise has filed an amended S-1 form for an Ethereum (ETH) spot ETF ahead of the deadline on the 8th of this month, suggesting that Ethereum spot ETFs are getting ready for trading.

Bitwise filed an amended third registration application on the 3rd. Analysts believe these products could begin listing within the next two weeks.

According to a source familiar with the matter, the SEC (US Securities and Exchange Commission) has not said when the final draft will be available, but it could approve it by the end of next week.

Bloomberg ETF analyst James Seyffart said in a post on X that "We have received an amended S-1 for Ethereum from Bitwise, and we expect to receive further amendments from other issuers this week. At this time, we believe these products could list late next week to the week of the 15th."

On May 23, the SEC approved the 19b-4 forms of eight Ethereum spot ETFs, including Bitwise.

S-1 filings must be valid before trading can begin

Issuers must have their S-1 approved before trading can begin, as part of a two-step process.

Eric Balchunas, senior ETF analyst at Bloomberg, has questioned the SEC's response.

"Nobody really knows why the SEC is taking so long on these names. Given the light comments, they could have easily traded by now," he said on X. "All the signs are starting to show this month. Details will be announced next week."

The SEC has previously returned S-1 forms with lighter remarks to several Ethereum spot ETF issuers.

Bitwise has made some changes to its form, including adding a waiver of sponsorship fees for the first $500 million in assets.

The company has not yet disclosed how much fees it will charge for an Ethereum spot ETF. VanEck also said it would initially charge zero fees.

Source: Amended S-1
Image: Shutterstock

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