6 months ago
36 ARTICLE AD
The company manages the fourth largest spot Bitcoin ETF by BTC under management, with over $2 billion in holdings.
Bitwise filed for its spot Ethereum exchange-traded fund (ETF) on Mar. 28, according to an X post by Bloomberg ETF analyst James Seyffart. The first filing was an S-1 form, followed by a 19b-4 form less than one hour later.
The S-1 is mandatory for companies planning to offer securities publicly, while the 19b-4 is necessary when a stock exchange wants to list a new product, like a spot Ethereum ETF.
The new filing prompted some optimism from the crypto community about a spot Ethereum ETF approval in May. Users rushed to tag Eric Balchunas, another Bloomberg ETF analyst, in publications about Bitwise’s latest movements on X. However, Balchunas was quick to underscore that the chances of said approval are still low.
Getting tagged in tweets about this filing, the Eth corr study, and other eth etf hopium. I respect it all but our odds for Eth ETF approval in May remain a pessimistic 25% (I’d go lower if I could tbh). There’s 7 wks till deadline and radio silence from SEC = bleak. (Again,… https://t.co/fc8elrYm64
— Eric Balchunas (@EricBalchunas) March 28, 2024
The reason why he wouldn’t go lower is that the predictions are made by both Seyffart and Balchunas agreeing on the percentage, the latter said when responding to a commentary.
Bitwise’s BITB spot Bitcoin ETF is the fourth largest by Bitcoins (BTC) under management, with 30,734 BTC in holdings.
The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
Crypto Briefing may augment articles with AI-generated content created by Crypto Briefing's own proprietary AI platform. We use AI as a tool to deliver fast, valuable and actionable information without losing the insight - and oversight - of experienced crypto natives. All AI augmented content is carefully reviewed, including for factural accuracy, by our editors and writers, and always draws from multiple primary and secondary sources when available to create our stories and articles.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
