Bitwise Announces Launch of Ethereum Futures ETFs
Bitwise, a leading provider of cryptocurrency investment solutions, has confirmed that trading for two Ethereum futures exchange-traded funds (ETFs) will commence on October 2nd. This move expands Bitwise’s range of professionally managed vehicles, which already includes popular ETFs such as the Bitwise Crypto Industry Innovators ETF (BITQ) and the Bitwise Bitcoin Strategy Optimum Roll ETF (BITC). According to Matt Hougan, the Chief Investment Officer at Bitwise, Ethereum’s low correlation to traditional equities coupled with its increasing usage and cash flows make it an attractive growth asset for portfolios.
Growing Interest in Ethereum ETFs
While companies like BlackRock, Invesco, and Valkyrie are still waiting for approval on their Bitcoin ETF applications from the U.S. Securities and Exchange Commission (SEC), several firms are now exploring the Ethereum ETF space. Invesco, a well-known asset management company, is reportedly looking into launching the Invesco Galaxy Ethereum ETF.
Hot Take: Expanding Opportunities for Crypto Investors
The launch of Ethereum futures ETFs by Bitwise signals a growing interest in expanding investment opportunities in the crypto market. As more firms venture into the Ethereum ETF domain, investors now have additional options to diversify their portfolios beyond Bitcoin. With Ethereum’s unique characteristics as a growth asset and its increasing adoption, these ETFs provide a regulated avenue for investors to gain exposure to the potential upside of the second-largest cryptocurrency. As the crypto market continues to evolve, it is crucial for investors to stay informed about new investment products and consider their risk tolerance before making any investment decisions.
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