Bitwise Asset Management has revised its spot Bitcoin (BTC) exchange-traded fund (ETF) application and confirmed that trading in two Ethereum (ETH) futures ETFs will begin on October 2.
The company has disclose The Bitwise Ethereum Strategy ETF and the Bitwise Bitcoin and Ethereum Equal Weight Strategy ETF are scheduled to begin trading. Bitwise said the move will give investors access to CME Ethereum futures.
Matt Hougan, the company’s chief investment officer, said:
“Ethereum offers a wider range of portfolio opportunities than Bitcoin. Some investors view Ethereum as an alternative, while others view it as a traditional growth investment, with a mix of both. properties.”
Many companies awaiting approval for spot Bitcoin ETFs have also joined the Ethereum ETF race. Cointelegraph recently reported that asset manager Invesco is also exploring the possibility of launching an Invesco Galaxy Ethereum ETF.
Bitwise, BlackRock, Invesco, and Valkyrie are still waiting for the U.S. Securities and Exchange Commission (SEC) to approve their spot Bitcoin ETF applications, but the commission has delayed a decision due to the looming U.S. government shutdown.
related: Valkyrie cancels purchase of Ethereum futures contracts ahead of ETF launch
Additionally, the outcome of the Grayscale lawsuit supporting the conversion of the Grayscale Bitcoin Trust (GBTC) into a Bitcoin ETF may affect when the SEC makes a decision regarding approval of the spot Bitcoin ETF application. On August 29, a U.S. court rejected the agency’s objections, paving the way for the approval of the Grayscale Spot Bitcoin ETF.
Meanwhile, Bloomberg analyst James Seyffart disclosed a complete list of nine Ethereum futures ETFs that are expected to receive fast-track approval from the SEC on Monday, October 2, 2023.
Magazine: Cryptocurrency Regulation: Does SEC Chairman Gary Gensler Have the Final Say?
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