Bitwise registers Solana ETF in US state Delaware

November 21, 2024 Coin Telegraph

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Bitwise would be competing with fellow asset managers VanEck and Canary Capital for an SEC-approved spot Solana ETF.

Digital asset management firm Bitwise has registered a statutory trust for a proposed spot Solana exchange-traded fund (ETF) in Delaware — indicating that it may soon file for an S-1 registration statement with the United States securities regulator.

The Bitwise Solana (SOL) ETF was incorporated on Nov. 20, according to the State of Delaware’s Division of Corporations website. The registered agent was listed as CSC Delaware Trust Company, which is headquartered in Wilmington, Delaware.

Bitwise would still need to submit a 19b-4 filing and S-1 registration statement to the US Securities and Exchange Commission to officially put its name in the race with VanEck and Canary Capital.

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SEC Ethereum ETF decision unlikely driven by politics: Bernstein

June 4, 2024 Coin Telegraph

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Bernstein analysts Gautam Chhugani and Mahika Sapra believe the United States securities regulator likely approved the spot Ether ETFs to avoid a legal battle.

The United States securities regulator’s decision to approve the spot Ether (ETH) exchange-traded funds may not have been a last-minute decision driven by political pressure, according to analysts at research and brokerage firm Bernstein.

One of the leading theories behind the Securities and Exchange Commission’s sudden change in tone toward spot Ether ETFs in May was increased political pressure from the Democrats to win over swing voters in the lead-up to the U.S. election this November.

However, that narrative began looking less credible after President Joe Biden vetoed the SEC’s Staff Accounting Bulletin (SAB) No. 121 repeal bill, Bernstein analysts Gautam Chhugani and Mahika Sapra wrot in a June 3 report.

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Ethereum ETFs launch next month ‘certainly possible’ — Analyst

May 24, 2024 Coin Telegraph

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The launch date will largely depend on how quickly approved applicants amend their S-1 registration statements and how many rounds of feedback they receive from the SEC.

The newly-approved spot Ether (ETH) exchange-traded funds could launch as early as mid-June — if the United States securities regulator follows a similar timeline to its spot Bitcoin ETF process.

Spot Ether ETFs got the green light for their 19b-4 filings today, allowing the funds to be listed on their respective exchanges. However, applicants will first need approved S-1 registration statements to begin trading.

Bloomberg ETF analyst James Seyffart has been saying S-1 approvals could come in a “couple of weeks,” but also noted that they “could take longer” as the process typically takes up to five months.

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SEC’s ETF decision means ETH and ’a lot’ of other tokens are not securities

May 24, 2024 Coin Telegraph

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That doesn't mean the securities regulator can't still pursue action against actors in the staking domain, industry analysts and lawyers warn.

The approval of spot Ether (ETH) exchange-traded funds is “implicit recognition” from the United States Securities and Exchange Commission that Ether is not a security, according to industry pundits.

One even suggests this could extend to other tokens as well.

"These are commodities-based trust shares, so the SEC, by approving these, is explicitly saying they’re not going to go after Ether as a security,” noted Bloomberg ETF analyst James Seyffart in a discussion with Ryan Sean Adams on the Bankless podcast.

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‘It’s happening’ — 5 Ethereum ETF bidders amend SEC filings

May 21, 2024 Coin Telegraph

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Five U.S. asset managers bidding for an Ether ETF have amended their 19b-4 filings with the SEC.

Five potential spot Ether (ETH) exchange-traded fund (ETF) issuers have submitted amended 19b-4 filings after receiving last-minute feedback from the Securities and Exchange Commission.

The amended filings came from Fidelity, VanEck, Invesco and Galaxy, Ark 21Shares and Franklin Templeton, several filings show.

All five filings came in a 25-minute period between 9:35 pm and 10:00 pm UTC on May 21, according to Bloomberg ETF analyst James Seyffart.

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Ether surges 18% amid new hope for spot Ether ETFs approvals

May 21, 2024 Coin Telegraph

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If a 19b-4 spot Ether ETF filing be approved, analysts anticipate the SEC won’t immediately sign off on the S-1, which is required for the products to launch.

Ether (ETH) spiked 18% over 24 hours amid new speculation that spot Ether exchange-traded funds could be approved this week — despite months of pessimism.

According to Bloomberg ETF analysts Eric Balchunas and James Seyffart, there has been “chatter” that the United States securities regulator is asking applicants to accelerate their 19b-4 filings.

This has prompted the pair to raise their approval odds from 25% to 75%.

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