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Bitwise To Launch Bitcoin Ethereum Strategy ETF On October 2

by Index Investing News
September 30, 2023
in Cryptocurrency
Reading Time: 5 mins read
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After having amended its application for the spot Bitcoin Exchange-Traded Fund (ETF), crypto asset management firm Bitwise Asset Management announced that trading for two of its Ethereum themed ETFs is set to begin on October 2, 2023.

Also Read: September Check: Polygon Lands Google Cloud as its Latest Validator

Bitwise Ethereum Based ETF Launch

The company announced that trading would begin for the Bitwise Ethereum Strategy ETF ($AETH) and the Bitwise Bitcoin and Ether Equal Weight Strategy ETF ($BTOP). Bitwise said that with this, investors will be able to gain exposure to CME Ether futures through the widely popular and regulated ETF format “for the first time.” In a statement, the company’s CIO Matt Hougan said,

“The portfolio opportunity with Ethereum is broader than Bitcoin. Some investors consider Ethereum an alternative, while others see it as a traditional growth investment. It has elements of both.”

Several companies which are vying for the spot Bitcoin ETF approval have applied for the Ethereum ETF race. In a latest, CoinGape reported that asset management firm Invesco is also interested in launching the Invesco Galaxy Ethereum ETF.

Bitcoin ETFs: More Delays

Earlier, Bitwise was joined by the likes of Blackrock and Invesco in the list of firms who got a delay on decision from the U.S. Securities and Exchange Commission (SEC) around the Bitcoin ETF filings. This meant that the probability of a spot Bitcoin ETF approval in the year 2023 is almost zero. However, the Grayscale lawsuit verdict in favor of the conversion of Grayscale Bitcoin Trust (GBTC) into a Bitcoin ETF could turn out to be the game changer when the US SEC takes a decision sometime in 2024. On August 29, 2023, a US Court cleared the way for approval of the Grayscale spot Bitcoin ETF, rejecting the agency’s argument.

Meanwhile, James Seyffart, a Bloomberg analyst, shared the full list of 9 Ethereum Futures ETFs that will be given SEC accelerated approval to launch on Monday, October 2, 2023.

Also Read: Elon Musk Finally Pushes X (Twitter) Towards Profitability

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coingape

Anvesh reports major crypto updates around U.S. regulation and market moving trends. Published over 1,200 articles so far on crypto and blockchain. A proud dropout of University of Massachusetts, Lowell. Can be reached at [email protected] or twitter.com/BitcoinReddy or linkedin.com/in/anveshreddybtc/

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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