Bit-by-bit asset management ethereum-Futures-ETFs-From-Bitwise-Intend-to-Launch-October-2″>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 gave them the green light.
The two funds will be called Bitwise ethereum Strategy ETF (AETH) and Bitwise bitcoin and Ether Equal Weight Strategy ETF (BTOP). Bitwise said the launch of these ETFs will facilitate investors’ access to Chicago Mercantile Exchange (CME) Ether futures and further expand regulated and trusted investment avenues in the crypto sector.
ethereum Futures ETF
Bitwise Chief Investment Officer Matt Hougan highlighted the broad portfolio opportunity that ethereum offers compared to bitcoin, describing it as a combination of alternative and mainstream growth investing. He added:
“Some investors see ethereum as an alternative, while others perceive it as a conventional growth investment, encompassing the attributes of both.”
The launch comes as ethereum continues to establish itself as a nexus of innovation and growth. Generate a thriving ecosystem 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 is gaining, saying ETFs are intended to be a gateway for investors to participate in ethereum‘s expanding landscape through regulated avenues that inspire confidence.
Bigger picture
The start of trading of Bitwise ETFs is part of a broader trend, in which numerous companies, including Invesco and Valkyrie, are exploring ethereum ETF offerings while awaiting approval of bitcoin spot ETFs.
The US SEC’s decisions on these applications are highly anticipated, and the results could be influenced by related developments, such as the Grayscale lawsuit.
The crypto community is watching closely what the SEC does, as the watchdog’s approval decisions are set to shape the trajectory of crypto investments in the US for years to come.
Notably, Bloomberg analyst James Seyffart revealed that nine ethereum Futures ETFs, including Bitwise, will receive accelerated approval from the SEC for launch on Monday, October 2, 2023.
The post Bitwise Joins Growing List of ethereum ETF Managers appeared first on CryptoSlate.
