Bitwise Updates Bitcoin Strategy ETF to Include Ethereum

Bitwise Converts Filing To Bitcoin And Ether Strategy ETF

Bitwise has filed an updated prospectus with the US SEC to change its Bitcoin futures ETF to a Bitcoin and Ether equal weight strategy ETF. This follows a similar move by Valkyrie to revise its Bitcoin Strategy ETF to a Bitcoin and Ether Strategy ETF. Here are the key points:

– Bitwise has revised its Bitcoin Strategy Optimum Roll ETF to a Bitcoin and Ether Equal Weight Strategy ETF.
– The ticker for the ETF has been changed from BITF to BTOP.
– Bloomberg ETF analyst James Seyffart notes that the effective date for the change will be October 9.
– Valkyrie made a similar change recently, converting its Bitcoin Strategy ETF to a Bitcoin and Ether Strategy ETF.

SEC’s Response to Ethereum ETF Filings

According to Bloomberg ETF analyst Eric Balchunas, the SEC had previously asked Ether Futures ETF filers to withdraw their filings within 5-6 days. However, it has now been 13 days since the first filing, with no withdrawals. Here are the key points:

– The SEC’s response to Ethereum-focused ETF filings has been different from its stance on Bitcoin ETFs.
– Analysts believe that Ethereum ETFs have a higher chance of approval from the SEC compared to Bitcoin ETFs.
– Bloomberg analysts predict that Ethereum-focused ETFs could hit the market in mid-October.

Bitcoin and Ethereum Prices

The prices of Bitcoin and Ethereum have been under pressure. Here are the key points:

– Bitcoin’s price has fallen 0.5% in the last 24 hours and is currently trading at $29,389.
– The 24-hour low and high for Bitcoin are $29,336 and $29,688, respectively.
– Ethereum’s price is trading at $1846, down nearly 0.5% in the last 24 hours.

Hot Take

The conversion of Bitwise’s Bitcoin futures ETF to a Bitcoin and Ether equal weight strategy ETF reflects the increasing interest in Ethereum-focused ETFs. The SEC’s response to Ethereum ETF filings suggests a potential shift in their stance on cryptocurrency ETFs. If approved, these ETFs could have a significant impact on the prices of Bitcoin and Ethereum. Investors are eagerly awaiting decisions from BlackRock and Ark Invest regarding their Bitcoin ETFs.