Bitwise Resubmits 19b-4 Filing for Ethereum Spot ETF
CryptoNewsTerminal Staff22 May, 2024
Bitwise Resubmits 19b-4 Filing for Ethereum Spot ETF
Bitwise Asset Management has filed an updated 19b-4 request for review with the U.S. Securities and Exchange Commission (SEC) for its Ether spot exchange-traded fund (ETF). This updated filing comes after the SEC rejected Bitwise's initial 19b-4 filing for an Ether spot ETF in February. The SEC's rejection letter cited concerns about the ETF's underlying Ether market being subject to manipulation. In its updated filing, Bitwise has addressed the SEC's concerns by proposing a number of changes to the ETF's structure. These changes include: Using a different index for the ETF's underlying Ether market Increasing the ETF's minimum investment amount * Requiring the ETF to hold a portion of its assets in cash Bitwise is hopeful that these changes will address the SEC's concerns and allow the ETF to be approved.
