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
Subscribe to our Social Media for Exclusive Crypto News and Insights 24/7!
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.
