HomeEtherumBitwise joins the expanding group of Ethereum ETF managers

Bitwise joins the expanding group of Ethereum ETF managers

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Bitwise Asset Management has announced the launch of two Ethereum-themed exchange-traded funds (ETFs), becoming part of the expanding group of asset managers looking to create Ethereum-based futures products after receiving approval from the SEC.

The two funds, called the Bitwise Ethereum Strategy ETF (AETH) and the Bitwise Bitcoin and Ether Equal Weight Strategy ETF (BTOP), will provide investor access to Chicago Mercantile Exchange (CME) Ether futures and increase regulated investment opportunities in the crypto sector.

Ethereum futures ETFs

According to Bitwise chief investment officer Matt Hougan, Ethereum offers a diverse portfolio opportunity compared to Bitcoin, with characteristics of 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.”

This launch comes at a time when Ethereum is emerging as a hub for innovation and growth, attracting numerous users and leading brands due to its thriving ecosystem of applications and developments.

Bitwise CEO Hunter Horsley emphasized Ethereum’s dynamic growth and momentum, stating that the ETFs provide a regulated gateway for investors to participate in Ethereum’s expanding landscape.

Broader landscape

Bitwise’s ETFs are part of a larger trend, with several companies, including Invesco and Valkyrie, exploring Ethereum ETF offerings while awaiting approval for spot Bitcoin ETFs.

The decisions made by the U.S. SEC regarding these applications are highly anticipated, and related developments, such as the Grayscale lawsuit, may influence the outcomes.

The crypto community is closely watching the SEC’s actions, as the approval decisions will significantly impact the trajectory of crypto investments in the U.S. for years to come.

In particular, Bloomberg analyst James Seyffart 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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