2023-09-30 01:59:56 ET
A leading crypto asset manager, Bitwise, has revealed that enthusiasts can start trading its new Ether-themed exchange-traded funds (ETFs) on 2 October 2023. The first-of-a-kind initiative will offer individuals exposure to Ether in a regulated ETF format.
Bitwise adds new offerings – AETH and BTOP
Bitwise announced two unique ETFs, the Bitwise Ethereum Strategy ETF (AETH) and the Bitwise Bitcoin & Ethereum Equal Weight Strategy ETF (BTOP). The new offering will expose investors to CME Ethereum futures via a popular and legal ETF format for the first time.
These newly launched products add to Bitwise’s massive collection of professionally managed offerings. The platform has over 20 products, including BITQ, BITC, and BWEB ETFs. Bitwise chief Hunter Horsley stated that Ethereum continues to blossom. He added,
“AETH and BTOP give investors the opportunity to participate in that growth with confidence through regulated ETFs.”
Meanwhile, Bitwise continues with its Ether exchange-traded fund goals amid the SEC’s delayed verdict on Bitcoin ETFs. According to Invezz.com news , the unclear crypto ETF decision by the regulator prompted Bitwise to withdraw its Ether and BTC ETF application. The asset manager planned to invest in either ETH or BTC futures contracts.
Ethereum as a dominant crypto asset
Considering elements such as 99.9% decline in gas fees, Ethereum remains a lucrative blockchain for enthusiasts, developers, and unique apps, making it an attractive option for diversification. Moreover, its real-world utilities make the Ether platform easy to understand and utilize for experienced players.
Ether-based applications have significantly progressed over the past few years. Automated Clearing House, SWIFT, and stablecoins processed transactions worth over $1 trillion in the first quarter of 2023. Further, capital deposited in Ethereum-based DeFi apps increased to $40B. Bitwise CEO stated,
“Ethereum has spread like wildfire. With blue-chop brands like Nike, Starbucks, Adidas, Pepsi, PayPal, JPMorgan, and others building using applications on Ethereum, the momentum is only building.”
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