Bitwise to Launch Two New Ether Futures ETFs
Bitwise, an asset manager, has announced its plans to list and trade two new ether futures ETF products starting next week. The company has filed the final forms with the Securities and Exchange Commission for the Bitwise Ethereum Strategy ETF (AETH) and the Bitwise Bitcoin and Ether Equal Weight Strategy ETF (BTOP).
Investment Strategies
The Bitwise Ethereum Strategy ETF (AETH) will focus on investing in regulated Chicago Mercantile Exchange ether futures, specifically front-month contracts. On the other hand, the Bitwise Bitcoin and Ether Equal Weight Strategy ETF (BTOP) will provide equal exposure to regulated CME bitcoin futures and CME ether futures.
Custodian and Expense Ratio
Bank of New York Mellon will serve as the custodian for both funds, which will have an expense ratio of 0.85%. These ether futures products by Bitwise offer investors opportunities to participate in cryptocurrency-related investments without direct exposure to the underlying asset.
Upcoming Competition
In addition to Bitwise, Valkyrie Investments and VanEck are also planning to launch their own ether futures products next week. While the SEC appears ready to allow trading of these ether futures funds, it has delayed applications for similar funds based on spot ether.
Hot Take: Increasing Options for Crypto Investors
The introduction of new ether futures ETFs by Bitwise, along with upcoming offerings from Valkyrie Investments and VanEck, provides more investment options for crypto enthusiasts. These products allow investors to gain exposure to ether futures without directly owning the digital asset itself. As regulators continue to navigate the evolving crypto landscape, these ETFs offer a regulated avenue for individuals seeking crypto-related investment opportunities. The competition among asset managers to launch such products indicates the growing interest in cryptocurrencies and the desire to cater to the needs of investors in this emerging market.
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