In the words of Bitwise CEO Hunter Horsley, “AETH and BTOP unlock access to the world's most interesting crypto asset with confidence, through regulated futures ETFs.”
Crypto asset manager Bitwise announced its plans to launch new Ethereum-themed futures exchange-traded funds (ETFs) on October 2.
Bitwise announced today that two groundbreaking Ether futures ETFs intend to begin trading on Mon, October 2: the Bitwise Ethereum Strategy ETF (ticker: AETH) and the Bitwise Bitcoin and Ether Equal Weight Strategy ETF (ticker: BTOP).
— Bitwise (@BitwiseInvest) September 29, 2023
Full press release: https://t.co/1EzqpQ68Wy
In the official statement, Bitwise noted the first investment product, Bitwise Ethereum Strategy ETF (AETH), will allow clients to invest in CME Ether futures centered around front-month contracts. The other offering, Bitwise Bitcoin and Ether Equal Weight Strategy ETF (BTOP), will provide equal exposure to CME Bitcoin and Ether futures. Banking giant BNY Mellon will act as the custodian for both products. Bitwise’s new Ether-themed ETFs will have an expense ratio of 0.85%. Horsley added,
“The two funds continue to expand Bitwise’s leading suite of crypto products, providing investors with a wide set of options for accessing opportunities in the space.”
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Meanwhile, the market for spot Bitcoin ETFs in the US continues to remain in limbo. Many institutions, including Invesco, Galaxy Digital, Valkyrie Investments, and even Bitwise, have yet to receive regulatory approval for their spot Bitcoin ETF applications.
However, the Grayscale vs. SEC lawsuit might turn the odds in favor of the crypto industry. In August, the court ruled in favor of Grayscale and mandated the SEC to review the firm’s spot Bitcoin ETF offering. Many speculate Grayscale's victory will finally lead to the approval of BTC ETFs.
Written by
Ayush Pande
Ayush Pande is a hardware, gaming, and crypto writer based in India. He's a tech enthusiast who's fascinated by the potential of blockchain technology.
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