Bitwise to Introduce Bitcoin and Ethereum Strategy ETF on October 2

Bitwise Ethereum ETFs Set to Begin Trading in October

Bitwise Asset Management has announced that two of its Ethereum-themed Exchange-Traded Funds (ETFs) will begin trading on October 2, 2023. The Bitwise Ethereum Strategy ETF ($AETH) and the Bitwise Bitcoin and Ether Equal Weight Strategy ETF ($BTOP) will allow investors to gain exposure to CME Ether futures through a regulated ETF format for the first time. Bitwise’s CIO, Matt Hougan, stated that Ethereum offers a broader portfolio opportunity than Bitcoin, with some investors considering it an alternative investment and others viewing it as a traditional growth investment.

Ethereum ETF Race Heats Up

Bitwise is not the only company looking to launch an Ethereum ETF. Invesco recently expressed interest in launching the Invesco Galaxy Ethereum ETF. The race for an Ethereum ETF approval is becoming increasingly competitive, as many firms are vying for a spot in this growing market.

Bitcoin ETF Approval Faces Delays

While the launch of Ethereum ETFs is imminent, the approval of a spot Bitcoin ETF faces further delays. Bitwise, along with Blackrock and Invesco, received a delay on their Bitcoin ETF filings from the SEC. This means that the chances of a spot Bitcoin ETF approval in 2023 are highly unlikely. However, the recent Grayscale lawsuit verdict in favor of converting Grayscale Bitcoin Trust (GBTC) into a Bitcoin ETF could potentially be a game changer when the SEC makes its decision in 2024.

List of Accelerated Approved Ethereum Futures ETFs Revealed

Bloomberg analyst James Seyffart shared a list of nine Ethereum Futures ETFs that will receive accelerated approval from the SEC to launch on October 2, 2023. This indicates that there is significant interest and demand for Ethereum-based investment products.

Hot Take: Ethereum ETFs Pave the Way for Crypto Market Expansion

The launch of Ethereum ETFs marks an important milestone in the crypto market, providing investors with regulated access to Ethereum futures. This not only demonstrates the growing popularity and acceptance of Ethereum but also opens up new opportunities for investors seeking exposure to cryptocurrencies. As more ETFs are introduced, it is likely that the overall crypto market will expand and attract a wider range of investors. The race for ETF approvals highlights the increasing interest in cryptocurrencies as a legitimate asset class, further solidifying their presence in traditional finance.