Is Bitwise CEO Hinting at Big News? Spot Ether ETF Launch by July 4?
Bitwise CEO Hunter Horsley has hinted at a big announcement from Bitwise Invest, possibly involving an S-1 filing for a spot Ethereum ETF. This news has excited the crypto community, especially traders hoping for ETH prices to rise.
Anticipation Builds for Bitwise’s Major Announcement
On Thursday, June 20, Hunter Horsley, CEO of Bitwise Invest, took to X (formerly known as Twitter) to major announcement from the company.
“Keep an eye on Bitwise Invest tomorrow. Something cool,” he posted, sparking speculation about the announcement’s details.
While Horsley’s post was vague, experts believe it could relate to another S-1 amendment for a spot Ethereum ETF. This follows a recent amendment where Bitwise revealed a $2.5 million seed investment and potential $100 million investment in the Ether ETF from Pantera.
Flurry of S-1 Amendments Expected
Nate Geraci, president of ETF Store, mentioned that many spot Ethereum ETF S-1 amendments were expected on Thursday and Friday. He noted that there appear to be no more issues for the U.S. SEC to address regarding Bitwise’s S-1 filing.
Geraci is optimistic that a spot Ethereum ETF could launch before July 4, referencing SEC Chair Gary Gensler’s suggestion of approving Ether ETFs by the end of summer. With the SEC having concluded its investigation into Ethereum, it seems likely that spot Ether ETFs will soon be listed and traded on exchanges. Geraci expects Bitwise to announce management fees for its spot Ether ETF soon, noting that Bitwise charges a 0.20% management fee for its Bitcoin ETF (BITB).
Increasing Interest in Spot Ether ETFs
Consensys recently disclosed that the SEC ended its investigation into Ethereum, which has helped the broader crypto market recover. ETH prices have risen above $3,500, indicating strong interest in the spot Ethereum ETF and attracting institutional investors.
Currently, ETH is trading at $3,610, showing a 2% increase in the past 24 hours. Despite a 28% decrease in trading volume over the same period, anticipation of S-1 filings for spot Ethereum ETFs suggests ETH prices could rise further. This could lead to a broader crypto market rebound and potentially trigger an altcoin season.
Bitwise’s upcoming major announcement, potentially related to a spot Ethereum ETF, has sparked significant interest and speculation in the crypto community. With regulatory hurdles seemingly cleared and institutional interest growing, the launch of a spot Ethereum ETF could be a significant moment for the market, potentially driving ETH prices higher and influencing the broader crypto landscape.
