Bitwise’s Chief Compliance Officer, Katherine Dowling, has indicated that spot Ethereum ETFs are on the verge of approval, as discussions with the SEC show promising progress. In a recent interview with Bloomberg, Dowling noted a reduction in issues with each S-1 amendment, signaling an imminent launch. This development aligns with SEC chair Gary Gensler’s statement of a potential full approval of issuers’ registration statements this summer, although the timeline remains flexible.

Despite the competition from industry giants like BlackRock and Fidelity, Bitwise is positioning itself as a standout due to its extensive focus on crypto over the years. The company filed its latest amendment on July 3, staying ahead in the race against a July 8 deadline set for many other applicants. These amendments are critical as they continue to refine details such as sponsor’s fees.

Dowling also revealed ongoing discussions with the SEC about new crypto products, suggesting a receptive attitude from the agency towards innovative financial products. While some offerings may hinge on a change in SEC leadership, the positive dialogue bodes well for the future of cryptocurrency-related investments.

Bloomberg

Introduction

Bitcoin will revolutionize politics, not replace it.

Even if hyperbitcoinization were to become a reality with Bitcoin at the center of the monetary system that emerges from the ruins of the current fiat system, the state would remain the dominus of international relations. It would rise from the ruins of its predecessors, like a phoenix from its ashes.

As Max Weber wrote over a hundred years ago in his famous essay “Economy and Society,” the state will continue to utilize legal coercion and violence as its specific and distinctive means of action. This is due to its essence of being an aspiring monopolist of force internally and rex superiorem non recognoscentes…

Read more on BitcoinMagazine

Bitcoin remains poised for a significant rebound, with predictions suggesting it could surge past $100,000 by year’s end. Anthony Scaramucci of Skyridge Capital highlights the enduring potential of Bitcoin, underpinned by a slew of positive developments. Notably, the repayment efforts by defunct exchanges like Mount Gox and FTX are set to inject billions back into the market, potentially boosting Bitcoin’s value as a substantial portion is expected to be reinvested.

The cryptocurrency is gaining traction as a mainstream asset, bolstered by legislative efforts to establish a regulatory framework. This movement suggests a growing recognition of Bitcoin as a legitimate store of value, which Scaramucci believes firmly supports its long-term ascent. The protective measures outlined in recent GOP platforms further underscore this sentiment.

Despite temporary selling pressures from various quarters, including government sell-offs and mining adjustments, the market sentiment remains optimistic. As these pressures wane, industry experts, including Scaramucci, forecast a robust recovery for Bitcoin, which has already seen a 29% increase since the beginning of the year.

CNBC