Bitwise Asset Management is preparing to launch trading for two Ethereum-themed ETFs, which will be a big milestone for cryptocurrency investors. The launch of these Exchange-Traded Funds (ETFs) will offer investors a regulated and widely accepted way to invest in Ethereum, a first of its type.
On October 2, 2023, be prepared. Read on to learn more!
AETH and BTOP from Bitwise
Bitwise announced the introduction of two new ETFs: the Bitwise Ethereum Strategy ETF (ticker: $AETH) and the Bitwise Bitcoin and Ether Equal Weight Strategy ETF (ticker: $BTOP). Ethereum, according to Matt Hougan, Chief Investment Officer of Bitwise, provides a broader investment portfolio than Bitcoin.
Bitwise Launches Two Ethereum ETFs on October 2nd,Bitwise Launches Two Ethereum ETFs on October 2nd
The rivalry is fierce.
Bitwise is not alone in its desire to launch an Ethereum ETF. Invesco, a major player in the financial markets, recently revealed its intention to establish the Invesco Galaxy Ethereum ETF. This move comes amid regulatory delays for Bitcoin ETFs, with major players such as Blackrock and Invesco awaiting judgements from the US Securities and Exchange Commission (SEC).
Though the probability of a Bitcoin ETF certification in 2023 is remote, the future of crypto ETFs is not entirely dark. When the SEC rules in 2024, the choice to transform the Grayscale Bitcoin Trust (GBTC) into a Bitcoin ETF could be game-changing. Bloomberg analyst James Seyffart recently discovered that as many as nine Ethereum Futures ETFs have been scheduled for SEC fast approval on October 2.
What makes Ethereum’s investment appeal unique?
Ethereum’s appeal as an investment stems from its recent poor correlation with traditional stocks such as the S&P 500 Index, Nasdaq-100 Index, and Russell 2000 Index. Because of its low correlation, Ethereum is an appealing alternative for diversification. According to Hougan, its real-world applications make it understandable and beneficial to seasoned investors.
Bitwise Isn’t Stopping
The addition of these Ethereum ETFs to Bitwise’s already wide line-up of over 20 investment products is part of the company’s broader goal. There are five more ETFs, private placement funds, multi-strategy solutions, and separately managed accounts in this category.
Bitwise, one of America’s largest and fastest-growing crypto asset managers, expects its new Ethereum ETF offerings to appeal to both crypto aficionados and traditional investors eager to diversify their portfolios.
Bitwise Launches Two Ethereum ETFs on October 2nd,Bitwise Launches Two Ethereum ETFs on October 2nd