Bitwise Files Application to Launch a Spot Ethereum ETF

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Bitwise has submitted a request to issue an exchange-traded fund for spot Ether, at a time when uncertainties remain about whether the Securities and Exchange Commission will give the go-ahead for such products.

On Thursday, Bitwise filed its S-1 form with the SEC for the Bitwise Ethereum ETF.

This move comes after comments made by the company’s CIO, Matt Hougan, who suggested that it might be preferable if the SEC does not approve these new instruments in May, when it is expected to decide on the first pending applications for spot Ether ETFs.

Initially, there was confidence among market observers that a spot Ether ETF would be approved, since spot bitcoin ETFs started trading in January.

These newly launched products have seen over $150 billion in trading volume and have generally been considered a success.