Bitwise Unveils Exciting Plan for New Bitcoin and Ether ETFs

Bitwise’s ETF revisions and Ethereum futures debut bring fresh possibilities and SEC suspense to investors.

Young Woman waiting for the EFT slot machine to stop spinning.
Created by Gabor Kovacs from DailyCoin
  • Bitwise Asset Management has made bold moves that redefine investor opportunities.
  • The elusive approval of Bitcoin ETFs by the SEC has kept the financial world on edge.
  • With excitement building, the cryptocurrency landscape has prepared for a transformative shift.

Bitwise Asset Management has made significant strides by revising its application for a Bitcoin exchange-traded fund (ETF) while also confirming the imminent trading debut of not one, but two Ethereum futures ETFs on October 2.

Bitwise Unveils Plans for Ethereum & Bitcoin ETF Trading

The company has unveiled its plans to commence trading for the Bitwise Ethereum Strategy ETF and the Bitwise Bitcoin and Ether Equal Weight Strategy ETF. This move by Bitwise aims to grant investors access to Ethereum futures listed on the Chicago Mercantile Exchange.

According to Matt Hougan, the firm’s chief investment officer, Ethereum presents a broader range of investment opportunities when compared to Bitcoin. Some investors perceive Ethereum as an alternative, while others see it as a conventional growth investment, combining elements of both.

SEC Delays Decision on Top Bitcoin ETF Applications

Bitwise, BlackRock, Invesco, and Valkyrie are all still awaiting approval for their Bitcoin ETF applications from the United States Securities and Exchange Commission (SEC). The SEC has delayed its decision due to a pending U.S. government shutdown.

Furthermore, the resolution of the Grayscale lawsuit, which supports the transformation of the Grayscale Bitcoin Trust (GBTC) into a Bitcoin ETF, could impact the timing of the SEC’s decision regarding Bitcoin ETF approvals. On August 29, a U.S. court cleared the way for the approval of the Grayscale spot Bitcoin ETF by dismissing the SEC’s objections.

On the Flipside

  • The delay in the SEC’s decision regarding Bitcoin ETF applications has left investors and institutions in limbo.
  • The resolution of the Grayscale lawsuit may not guarantee a smooth path for Bitcoin ETF approvals.

Why This Matters

Bitwise’s bold move to launch Ethereum and Bitcoin ETFs signals a pivotal shift in the crypto investment landscape. With Ethereum’s expanding investment opportunities and Bitcoin ETF decisions pending, this development showcases the evolving dynamics in the crypto sphere, promising both investors and enthusiasts a glimpse into the future of digital assets.

To learn more about the potential impact of the imminent U.S. government shutdown on the crypto market, read here:
US Government Shutdown Imminent. How Will It Impact Crypto?

To catch up on the latest developments from Brad Garlinghouse and the XRP community’s celebratory event, click here:
Garlinghouse Baits XRP Community Ahead of Celebratory Event

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Kyle Calvert

Kyle Calvert is a cryptocurrency news reporter for DailyCoin, specializing in Ripple, stablecoins, as well as price and market analysis news. Before his current role, Kyle worked as a student researcher in the cryptocurrency industry, gaining an understanding of how digital currencies work, their potential uses, and their impact on the economy and society. He completed his Masters and Honors degrees in Blockchain Technology within Esports and Business and Event management within Esports at Staffordshire University.