Bitwise Asset Management has made adjustments to its application for a spot Bitcoin (BTC) exchange-traded fund (ETF) and has confirmed the commencement of trading for two Ethereum (ETH) futures ETFs on October 2.
Bitwise revealed that the Bitwise Ethereum Strategy ETF and the Bitwise Bitcoin and Ethereum Equal Weight Strategy ETF are set to begin trading, providing investors with access to CME Ethereum futures.
According to Matt Hougan, the company's chief investment officer “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 attributes."
Numerous companies awaiting approval for a spot Bitcoin ETF have also ventured into the race for an Ethereum ETF. Invesco, an asset manager, is exploring the possibility of launching an Invesco Galaxy Ethereum ETF, as previously reported by Cointelegraph. Bitwise, BlackRock, Invesco, and Valkyrie are all awaiting the decision of the U.S. Securities and Exchange Commission (SEC) on their spot Bitcoin ETF applications. However, the commission has delayed its decision due to the impending U.S. government shutdown.
The outcome of Grayscale's lawsuit supporting the conversion of the Grayscale Bitcoin Trust (GBTC) into a Bitcoin ETF could also influence the SEC's decision on approving the spot Bitcoin ETF application. On August 29, a U.S. court rejected the agency's objections, potentially paving the way for the approval of Grayscale's spot Bitcoin ETF.
Meanwhile, Bloomberg analyst James Seyffart has unveiled the complete list of nine Ethereum futures ETFs expected to receive fast-track approval from the SEC on Monday, October 2, 2023.
