Bitwise Asset Management Plans to Launch Ether Futures ETFs
Bitwise Asset Management has announced that it will be launching two Ether (ETH) futures exchange-traded funds (ETFs) on October 2. The firm stated that this move will allow investors to access Chicago Mercantile Exchange Ether futures. Bitwise’s chief investment officer, Matt Hougan, emphasized that Ethereum offers a more diverse investment opportunity compared to Bitcoin, with some investors considering it an alternative and others seeing it as a growth investment.
Spot Bitcoin ETF Approvals Still Awaited
Bitwise, along with BlackRock, Invesco, and Valkyrie, are still waiting for approval on their spot Bitcoin ETF applications from the United States Securities and Exchange Commission (SEC). The SEC has delayed making a decision due to a potential government shutdown. The outcome of the Grayscale lawsuit, which supports the transformation of the Grayscale Bitcoin Trust (GBTC) into a Bitcoin ETF, may also influence when the SEC approves spot Bitcoin ETF applications. A recent court ruling dismissed the SEC’s objections and opened the path for the approval of the Grayscale spot Bitcoin ETF.
Nine Ethereum Futures ETFs Slated for Approval
Bloomberg analyst James Seyffart has revealed that there are nine Ethereum Futures ETFs expected to receive expedited approval from the SEC for their launch on October 2, 2023.
Hot Take: Expansion of Crypto Investment Opportunities
The launch of Ether futures ETFs by Bitwise Asset Management reflects the growing demand for diverse cryptocurrency investment opportunities. With Ethereum offering distinct advantages and attracting different types of investors, these new ETFs provide another avenue for individuals to participate in the crypto market. While awaiting approval for spot Bitcoin ETFs, industry players continue to push for regulatory clarity and expand the range of investment products available to crypto enthusiasts. The upcoming launch of Ethereum Futures ETFs, along with the potential approval of Grayscale’s Bitcoin ETF, signals a promising future for cryptocurrency investments.
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