February 22, 2024
Cryptocurrency

Bitwise announces Ethereum ETF launch on Oct. 2

Bitwise stated that this move will enable investors to access CME Ether futures.

Bitwise Asset Management has revised its spot Bitcoin exchange-traded fund (ETF) application and confirmed that trading for two Ether futures ETFs will commence on Oct. 2.

The firm has revealed that trading is scheduled to commence for the Bitwise Ethereum Strategy ETF and the Bitwise Bitcoin and Ether Equal Weight Strategy ETF. Bitwise stated that this move will enable investors to access Chicago Mercantile Exchange Ether futures.

The firm’s chief investment officer, Matt Hougan, said:

“Ethereum offers a more extensive portfolio opportunity compared to Bitcoin. Some investors view Ethereum as an alternative, while others perceive it as a conventional growth investment, encompassing attributes of both.“

Numerous companies awaiting approval for a spot Bitcoin ETF have also entered the Ethereum ETF race. Cointelegraph recently reported that asset management company Invesco is also exploring the possibility of introducing the Invesco Galaxy Ethereum ETF.

Bitwise, BlackRock, Invesco and Valkyrie still await approval for their spot Bitcoin ETF applications by the United States Securities and Exchange Commission (SEC), which has delayed making a decision amid a looming U.S. government shutdown.

Additionally, the outcome of the Grayscale lawsuit, which supports the transformation of the Grayscale Bitcoin Trust (GBTC) into a Bitcoin ETF, might influence when the SEC makes a decision regarding approving spot Bitcoin ETF applications. On Aug.29, a U.S. court paved the path for the approval of the Grayscale spot Bitcoin ETF by dismissing the agency’s objections.

Meanwhile, Bloomberg analyst James Seyffart has disclosed the complete roster of nine Ethereum Futures ETFs slated to receive expedited approval from the SEC for their launch on Monday, Oct. 2, 2023.

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