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Bitwise announces the launch of Ethereum ETF on October 2.

Bitwise has announced a strategic move aimed at granting investors access to CME Ether futures. The team at Bitwise Asset Management has taken a bold step by revising their spot Bitcoin exchange-traded fund (ETF) application. They’ve also confirmed that trading for two groundbreaking Ether futures ETFs is set to kick off on October 2.

These two pioneering ETFs are none other than the Bitwise Ethereum Strategy ETF and the Bitwise Bitcoin and Ether Equal Weight Strategy ETF. Bitwise is unwavering in its belief that this strategic maneuver will empower investors to tap into the dynamic world of Chicago Mercantile Exchange Ether futures.

Matt Hougan, the firm’s Chief Investment Officer, shared his insights in a statement, highlighting the expansive portfolio potential Ethereum offers compared to Bitcoin. Some investors perceive Ethereum as an innovative alternative, while others view it as a classic growth investment, seamlessly blending elements of both.

Interestingly, the Ethereum ETF arena is heating up, with several companies vying for approval, mirroring the earlier frenzy around Bitcoin ETFs. Notably, asset management powerhouse Invesco is also exploring the potential launch of the Invesco Galaxy Ethereum ETF.

It’s worth noting that Bitwise, alongside industry giants BlackRock and Invesco, experienced delays in receiving decisions from the U.S. Securities and Exchange Commission (SEC) concerning their Bitcoin ETF applications. As a result, the prospects for a green light on a spot Bitcoin ETF in 2023 look exceedingly dim.

However, a game-changing factor could be the outcome of the Grayscale lawsuit, which advocates for the transformation of Grayscale Bitcoin Trust (GBTC) into a Bitcoin ETF. This transformation could substantially influence the SEC’s decision, expected in 2024. On August 29, 2023, a U.S. Court cleared the path for the approval of the Grayscale spot Bitcoin ETF by dismissing the agency’s objections.

In the meantime, Bloomberg analyst James Seyffart has unveiled the comprehensive lineup of nine Ethereum Futures ETFs poised to receive swift approval from the SEC, with their launch slated for Monday, October 2, 2023.

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