Ethereum

Equal

Bitcoin

Grayscale Bitcoin Trust

Spot

Bitwise Asset Management, a provider of investment management services, has announced the launch of two Ethereum ETFs on October 2nd. These ETFs will provide investors with access to Chicago Mercantile Exchange (CME) Ether futures. 
<h2 id="span-style-font-weight-400-bitwise-brings-2-new-etfs-span">Bitwise Brings 2 New ETFs</h2> 
As per the recent <a href="https://cointelegraph.com/news/bitwise-announces-ethereum-etf-launch-on-october-2">report</a>, Bitwise, a company based in San Francisco has <a href="https://www.businesswire.com/news/home/20230929506712/en/AETH-and-BTOP-Two-First-of-their-Kind-Ethereum-Futures-ETFs-From-Bitwise-Intend-to-Launch-October-2">announced</a> that trading will commence for the Bitwise Ethereum Strategy ETF and the Bitwise Bitcoin and Ether Equal Weight Strategy ETF.&nbsp; 
Commenting on this development, Matt Hougan, the Chief Investment Officer of Bitwise stated: 
“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.“ 
<h3 id="span-style-font-weight-400-rejection-of-spot-btc-etfs-span">Rejection of Spot BTC ETFs</h3> 
The SEC’s history of rejecting spot Bitcoin ETF applications has persisted for quite some time. Frequently, the regulator cites the absence of security standards to safeguard against fraudulent activities. However, the resolution of the Grayscale lawsuit could potentially impact the timing of the SEC’s decisions on approving spot Bitcoin ETF applications.&nbsp; 
<h2 id="span-style-font-weight-400-the-grayscale-lawsuit-span">The Grayscale Lawsuit</h2> 
On August 29th, a U.S. court cleared the way for the approval of Grayscale’s spot Bitcoin ETF by rejecting the agency’s objections. Grayscale, the company <a href="https://thecoinrise.com/grayscale-asks-sec-to-greenlight-8-spot-etfs-altogether/">aiming to transform the Grayscale Bitcoin Trust</a> (GBTC) into a comprehensive ETF product, <a href="https://thecoinrise.com/grayscale-is-ready-to-fight-a-legal-battle-with-sec-for-its-spot-btc-etf/">&nbsp;was once a victim of this rejection</a> from the SEC.&nbsp; 
<h3 id="span-style-font-weight-400-simultaneous-approvals-of-etfs-span">Simultaneous Approvals of ETFs</h3> 
In August, a report from The Wall Street Journal indicated that the United States Securities and Exchange Commission (<a href="https://thecoinrise.com/ether-futures-etfs-to-get-approved-simultaneously-wsj/">SEC) was anticipated to simultaneously grant</a> approval for multiple requests regarding Ether futures exchange-traded funds (ETFs).&nbsp; 
However, a notable development was the revelation of a <a href="https://thecoinrise.com/blackrock-names-coinbase-as-surveillance-sharing-partner-in-btc-etf-filing/">“surveillance-sharing agreement”</a> in an amended filing by Coinbase concerning its efforts to launch a Bitcoin exchange-traded fund (ETF) based on the spot market. Grayscale stated that the existing surveillance-sharing agreements (SSAs) between Coinbase and spot ETF providers are “not a new idea” and do not meet the SEC’s requirements. 
The post <a rel="nofollow" href="https://thecoinrise.com/bitwise-to-debut-2-ethereum-etfs-on-october-2/">Bitwise to Debut 2 Ethereum ETFs on October 2</a> appeared first on <a rel="nofollow" href="https://thecoinrise.com">Latest News and Insights on Blockchain, Cryptocurrency, and Investing</a>.

Bitwise to Debut 2 Ethereum ETFs on October 2

Table of Contents

TheCoinrise Media

Other articles published on Sep 30, 2023

FROGGY Unveils Ambitious Plans to Revolutionize the Memecoin Landscape, Paving the Way for Invest...

Bitcoin service provider Azteco secures $6m in Jack Dorsey-led fundraiser

Shiba Inu ($SHIB) Continues to Surge Amid Rising Shibarium Hype

3AC Crypto Hedge Fund Founder Su Zhu Arrested In Singapore

Lawyer for Sam Bankman-Fried objects to US government’s suggested jury questions

Weekly Project Updates: Celestia Genesis Airdrop, Walmart NFT toys for sale, GMX Submits Funding ...

Join our free newsletter for daily crypto updates!