Asset manager Bitwise is set to launch two Ethereum-themed exchange-traded funds (ETFs) next week, providing investors with exposure to CME Ether futures through a regulated ETF format for the first time. The Bitwise Ethereum Strategy ETF will invest in front-month contracts for regulated CME Ether futures, while the Bitwise Bitcoin and Ether Equal Weight Strategy ETF will offer equal exposure to regulated CME Bitcoin and Ether futures. Both ETFs will have the Bank of New York Mellon as custodian and will have an expense ratio of 0.85% each. Bitwise’s move follows the filing of amended registration statements for the ETFs with the US Securities and Exchange Commission (SEC).
Bitwise’s CIO Matt Hougan highlighted the significant progress of Ethereum-based applications in recent years, noting that the portfolio opportunity with Ethereum is broader than bitcoin. Some investors see Ethereum as an alternative Investment, while others view it as a traditional growth investment due to its dual elements. Hougan also noted that Ethereum’s correlation to traditional equities has remained low and continues to trend lower. Bitwise CEO Hunter Horsley commented on the upcoming ETFs, stating that Ethereum now has billions in revenue, millions of users, and thousands of distinct apps and developers. He added that with blue-chip brands using the Ethereum platform, the momentum is only building, and the ETFs provide an opportunity for investors to participate in that growth confidently.
Alongside Bitwise, Valkyrie Investments and VanEck are also expected to start Trading in Ethereum futures products next week. While the SEC is reportedly expediting approvals for Ethereum futures ETFs, it has delayed the processing of applications for similar funds tied to spot Ethereum. Four US lawmakers have called on the SEC to promptly approve a spot Ethereum ETF, arguing that prioritizing futures ETFs over spot products is illogical since there is no clear distinction between the two.
In conclusion, the launch of Bitwise’s Ethereum-themed ETFs will provide investors with access to regulated exposure to CME Ether futures. It comes amidst the growing popularity and progress of Ethereum-based applications, with Bitwise’s CEO highlighting the platform’s significant revenue, user base, and adoption by blue-chip brands. While the SEC is expediting approvals for Ethereum futures ETFs, the fate of spot ETFs linked to Ethereum remains uncertain, with calls from lawmakers for the SEC to prioritize their approval..
#Heres #Bitwises #Ether #Futures #ETFs #Debut
Bitwise’s CIO Matt Hougan highlighted the significant progress of Ethereum-based applications in recent years, noting that the portfolio opportunity with Ethereum is broader than bitcoin. Some investors see Ethereum as an alternative Investment, while others view it as a traditional growth investment due to its dual elements. Hougan also noted that Ethereum’s correlation to traditional equities has remained low and continues to trend lower. Bitwise CEO Hunter Horsley commented on the upcoming ETFs, stating that Ethereum now has billions in revenue, millions of users, and thousands of distinct apps and developers. He added that with blue-chip brands using the Ethereum platform, the momentum is only building, and the ETFs provide an opportunity for investors to participate in that growth confidently.
Alongside Bitwise, Valkyrie Investments and VanEck are also expected to start Trading in Ethereum futures products next week. While the SEC is reportedly expediting approvals for Ethereum futures ETFs, it has delayed the processing of applications for similar funds tied to spot Ethereum. Four US lawmakers have called on the SEC to promptly approve a spot Ethereum ETF, arguing that prioritizing futures ETFs over spot products is illogical since there is no clear distinction between the two.
In conclusion, the launch of Bitwise’s Ethereum-themed ETFs will provide investors with access to regulated exposure to CME Ether futures. It comes amidst the growing popularity and progress of Ethereum-based applications, with Bitwise’s CEO highlighting the platform’s significant revenue, user base, and adoption by blue-chip brands. While the SEC is expediting approvals for Ethereum futures ETFs, the fate of spot ETFs linked to Ethereum remains uncertain, with calls from lawmakers for the SEC to prioritize their approval..
#Heres #Bitwises #Ether #Futures #ETFs #Debut
