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Bitwise joins growing list of Ethereum ETF managers Bitwise joins growing list of Ethereum ETF managers

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Bitwise joins growing list of Ethereum ETF managers – Crypto News

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Bitwise Asset Management announced the launch of two Ethereum-themed exchange-traded funds (ETFs), joining the growing list of asset managers looking to create Ethereum-based futures products after the SEC greenlit them.

The two funds will be called the Bitwise Ethereum Strategy ETF (AETH) and the Bitwise Bitcoin and Ether Equal Weight Strategy ETF (BTOP). Bitwise said the launch of these ETFs will facilitate investor access to Chicago Mercantile Exchange (CME) Ether futures and further expand regulated and trusted investment avenues in the crypto sector.

Ethereum futures ETFs

Bitwise chief investment officer Matt Hougan noted the extensive portfolio opportunity Ethereum offers compared to Bitcoin, describing it as a blend of alternative and conventional growth investment. He added:

“Some investors view Ethereum as an alternative, while others perceive it as a conventional growth investment, encompassing attributes of both.”

The launch comes as Ethereum continues to establish itself as a nexus of innovation and growth. It brings forth an ecosystem thriving with applications and developments, capturing the attention of millions of users and leading brands.

Bitwise CEO Hunter Horsley highlighted Ethereum’s dynamic growth and the momentum it’s gaining and said the ETFs are intended to be a gateway for investors to participate in Ethereum’s expanding landscape through regulated avenues that inspire confidence.

Broader landscape

The commencement of trading for Bitwise’s ETFs is part of a larger trend, with numerous companies, including Invesco and Valkyrie, exploring Ethereum ETF offerings while awaiting approval for spot Bitcoin ETFs.

The decisions by the U.S. SEC on these applications are highly anticipated, with outcomes potentially being influenced by related developments such as the Grayscale lawsuit.

The crypto community is keenly observing what the SEC does, as approval decisions by the watchdog are poised to shape the trajectory of crypto investments in the U.S. for years to come.

Notably, Bloomberg analyst James Seyffart revealed that nine Ethereum Futures ETFs, including Bitwise’s, are set to receive expedited approval from the SEC for their launch on Monday, October 2, 2023.

The post Bitwise joins growing list of Ethereum ETF managers appeared first on CryptoSlate.

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