以太坊 ETF 即将推出，但其他加密货币相关产品会得到 SEC 的批准吗？

Bitwise Asset Management 首席通讯官 (CCO) Katherine Dowling 讨论了该公司的现货以太坊 ETF（交易所交易基金）申请

Katherine Dowling, Chief Communications Officer (CCO) at Bitwise Asset Management, discussed the firm’s spot Ethereum ETF (exchange-traded fund) application and the possibility of new crypto-related products being approved by the US Securities and Exchange Commission (SEC) on Tuesday.

Bitwise 资产管理公司首席通讯官 (CCO) Katherine Dowling 周二讨论了该公司的现货以太坊 ETF（交易所交易基金）申请以及新的加密相关产品获得美国证券交易委员会 (SEC) 批准的可能性。

Dowling joined Bloomberg Crypto to discuss the progress of Bitwise’s spot Ethereum ETF application. The applications are advancing smoothly, with issuers seeing “fewer and fewer issues” in the S-1 amendments, according to the crypto fund’s CCO.

Dowling 与 Bloomberg Crypto 一起讨论了 Bitwise 以太坊 ETF 现货申请的进展。该加密货币基金的 CCO 表示，申请进展顺利，发行人在 S-1 修正案中发现的“问题越来越少”。

This suggests that “we are close to the finish line on the launch.” Dowling stated

这表明“我们已经接近发射的终点线。”道林表示

“It’s been a long, hot summer for the issuers” waiting for the launch of the Ethereum ETFs as the applicants don’t have a date yet.

“对于发行人来说，这是一个漫长而炎热的夏天”，等待以太坊 ETF 的推出，因为申请人尚未确定日期。

As Chair Gensler said, it’s going to be sometime over the summer. Everyone has a different definition of summer.

正如詹斯勒主席所说，这将是夏天的某个时候。每个人对夏天都有不同的定义。

Previously, SEC’s chairman, Gary Gensler, stated that the investment products would be approved during the summer. The news has caused speculation about when the products will launch. In late June, Reuters reported that sources close to some applicants believed the Ethereum ETFs could be approved by July 4.

此前，SEC 主席加里·根斯勒 (Gary Gensler) 表示，投资产品将在夏季获得批准。这一消息引发了人们对产品何时推出的猜测。 6 月底，路透社报道称，接近一些申请人的消息人士认为，以太坊 ETF 可能会在 7 月 4 日之前获得批准。

When asked about the retail and institutional demand for Ether-based investment products, the CCO explained that ETH ETFs are a “more nuance sell” than spot Bitcoin ETFs.

当被问及散户和机构对基于以太币的投资产品的需求时，CCO 解释说，与现货比特币 ETF 相比，ETH ETF 的销售“更加细微差别”。

However, Dowling considers it has “its own market structure that is explainable.” Although “not as easily explainable as the ‘digital gold’ qualities of Bitcoin,” it is not “a harder sell” than the flagship cryptocurrency.

然而，道林认为它有“自己的、可以解释的市场结构”。尽管“不像比特币的‘数字黄金’品质那么容易解释”，但它并不比旗舰加密货币“更难卖”。

Bitcoin is the big leader. We are six months behind here, and we are close to the launch of the spot ETH ETFs.

比特币是最大的领导者。我们已经落后了六个月，并且即将推出现货 ETH ETF。

November Elections: The Decisive Moment For More ETFs

11 月选举：推出更多 ETF 的决定性时刻

Dowling also discussed the possibilities of other crypto-based ETFs being approved by the SEC. The CCO revealed they had discussed the prospect of “what’s coming down the pipe with new products” with the US regulator.

Dowling 还讨论了其他基于加密货币的 ETF 获得 SEC 批准的可能性。 CCO 透露，他们已经与美国监管机构讨论了“新产品即将推出的内容”的前景。

The discussions between the issuers and the SEC have been productive and welcoming:

发行人与 SEC 之间的讨论富有成效且令人欢迎：

It is an active dialogue, and I think our communication with the SEC about the prospects of these products has actually been quite welcoming.

这是一次积极的对话，我认为我们与 SEC 关于这些产品前景的沟通实际上是非常受欢迎的。

Despite the positive response from the US regulator, Dowling believes there’s almost no chance any other crypto-related spot ETF will be approved after Ethereum ETFs.

尽管美国监管机构做出了积极回应，但道林认为，继以太坊 ETF 之后，几乎不可能有任何其他加密货币相关现货 ETF 获得批准。

The CCO considers that those investment products may have to wait on a new SEC chairman; otherwise, “it’s going to be a long haul to get some of these products out in the market given the history.”

CCO 认为这些投资产品可能需要等待新的 SEC 主席上任；否则，“考虑到历史，将其中一些产品推向市场将是一个漫长的过程。”

Bloomberg ETF analyst Eric Balchunas shared a similar opinion after the news of a Solana spot ETF application being filed. Last month, Balchunas stated that the odds of a Solana ETF being approved in the next twelve months were “tied at the hip” to the November US presidential election.

在 Solana 现货 ETF 申请提交的消息传出后，彭博 ETF 分析师 Eric Balchunas 也表达了类似的观点。上个月，Balchunas 表示 Solana ETF 在未来 12 个月内获得批准的可能性与 11 月美国总统大选“密切相关”。

The ETF analyst reaffirmed his opinion this week when the Chicago Board Options Exchange (CBOE) filed the 19b-4 form for VanEck & 21Shares. According to the post, “Solana ETFs are going to have a final deadline of mid-March 2025.”

本周，当芝加哥期权交易所 (CBOE) 为 VanEck & 21Shares 提交 19b-4 表格时，这位 ETF 分析师重申了自己的观点。该帖子称，“Solana ETF 的最终截止日期为 2025 年 3 月中旬。”

However, Balchunas believes that the critical moment will occur in November. “If Biden wins, these likely DOA. If Trump wins, anything poss,” the ETF expert stated.

不过，巴尔丘纳斯认为，关键时刻将出现在11月。 “如果拜登获胜，这些可能是 DOA。如果特朗普获胜，一切皆有可能。”这位 ETF 专家表示。