Home Ethereum Bitwise becomes a part of the expanding roster of Ethereum ETF managers

Bitwise becomes a part of the expanding roster of Ethereum ETF managers

Bitwise becomes a part of the expanding roster of Ethereum ETF managers

Bitwise Asset Management has announced the launch of two Ethereum-themed exchange-traded funds (ETFs), joining other asset managers in creating Ethereum-based futures products after receiving approval from the SEC.

The two funds will be named Bitwise Ethereum Strategy ETF (AETH) and Bitwise Bitcoin and Ether Equal Weight Strategy ETF (BTOP). Bitwise believes that these ETFs will provide investors with access to Chicago Mercantile Exchange (CME) Ether futures and expand regulated investment options in the crypto sector.

Ethereum futures ETFs

Matt Hougan, Bitwise’s chief investment officer, mentioned that Ethereum offers a diverse portfolio compared to Bitcoin, combining both alternative and conventional growth investments. Hougan stated:

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

The launch comes at a time when Ethereum continues to grow as a hub of innovation, attracting millions of users and leading brands with its thriving ecosystem of applications and developments.

Hunter Horsley, Bitwise’s CEO, emphasized Ethereum’s dynamic growth and momentum. He stated that the ETFs aim to serve as a gateway for investors to participate in Ethereum’s expanding landscape through regulated avenues that inspire confidence.

Broader landscape

This launch is part of a larger trend, with companies like Invesco and Valkyrie exploring Ethereum ETF offerings while waiting for approval for spot Bitcoin ETFs.

Investors are eagerly watching the SEC’s decisions on these applications, which could be influenced by developments such as the Grayscale lawsuit.

The crypto community is closely monitoring the actions of the SEC, as the approval decisions made by the regulatory body will significantly impact the trajectory of crypto investments in the U.S. for years to come.

Notably, Bloomberg analyst James Seyffart has revealed that nine Ethereum Futures ETFs, including Bitwise’s, are expected 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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