- Bitwise Asset Management has updated its Bitcoin ETF application and confirmed trading for two ETH futures ETFs from October 2.
- The firm’s adjustment will enable access to Ether futures on the Chicago Mercantile Exchange.
- The SEC has postponed its decision on pending Bitcoin ETF applications.
Bitwise Asset Management has declared modifications to its spot Bitcoin ETF application and confirmed that trading for two ETH futures ETFs is set to commence on October 2.
According to the firm, Bitwise Ethereum Strategy ETF and Bitwise Bitcoin and Ether Equal Weight Strategy ETF are set to commence trading shortly. Furthermore, Bitwise has declared that this adjustment will enable access to Ether futures on the Chicago Mercantile Exchange.
The firm’s Chief Investment Officer, Matt Hougan, said innovation is non-negotiable.
“Ethereum offers a more extensive portfolio opportunity compared to Bitcoin. Some investors view Ethereum as an alternative, while others perceive it as a conventional growth investment, encompassing attributes of both.“
All Eyes on SEC
Numerous companies anticipating the approval of a Bitcoin ETF have concurrently initiated the development of an Ethereum ETF. The Invesco Galaxy Ethereum ETF, under the management of the investment management company Invesco, is purportedly in the process of being created.
The U.S. Securities and Exchange Commission (SEC) has yet to decide on the pending Bitcoin ETF applications from various industry leaders. Recently, the SEC postponed its verdict on the applications for major spot Bitcoin ETFs, including the one from BlackRock.
The outcome of the Grayscale lawsuit could influence the SEC’s decision on approving spot Bitcoin ETF applications. This lawsuit aims to transform the Grayscale Bitcoin Trust (GBTC) into a Bitcoin exchange-traded fund. On August 29, a U.S. judge overruled the agency’s opposition to the Grayscale spot Bitcoin ETF, paving the path for its potential approval.
