Ethereum

Bitcoin

Bitwise Asset Management is making significant moves in the world of cryptocurrency investment, with revisions to its spot Bitcoin (BTC) exchange-traded fund (ETF) application and the confirmation of trading commencement for two Ether (ETH) futures ETFs set for October 2nd. 
The company’s forthcoming offerings include the Bitwise Ethereum Strategy ETF and the Bitwise Bitcoin and Ether Equal Weight Strategy ETF, aimed at providing investors access to the Chicago Mercantile Exchange Ether futures. 
Matt Hougan, the firm’s Chief Investment Officer, emphasized Ethereum’s broader investment potential compared to Bitcoin, describing it as an asset that appeals to both alternative and traditional growth investors due to its versatile attributes. 
Interestingly, Bitwise is not alone in its pursuit of Ethereum-based ETFs. Invesco, another asset management giant, is exploring the introduction of the Invesco Galaxy Ethereum ETF, indicating the growing interest in Ethereum-focused investment products. 
However, a cloud of uncertainty looms over the approval of spot Bitcoin ETF applications from Bitwise, BlackRock, Invesco, and Valkyrie by the United States Securities and Exchange Commission (SEC). 
The SEC has yet to make a decision, partly due to the threat of a U.S. government shutdown. 
READ MORE: <a href="https://www.cryptointelligence.co.uk/fornite-developer-cuts-16-of-workforce-amid-metaverse-revenue-shortfall/">Fornite Developer Cuts 16% of Workforce Amid Metaverse Revenue Shortfall</a> 
Moreover, the outcome of the Grayscale lawsuit adds another layer of complexity. 
This lawsuit involves the transformation of the Grayscale Bitcoin Trust (GBTC) into a Bitcoin ETF. A U.S. court’s decision on August 29th paved the way for the approval of the Grayscale spot Bitcoin ETF by dismissing the SEC’s objections. 
This development could influence the SEC’s decision regarding spot Bitcoin ETF applications. 
In parallel, Bloomberg analyst James Seyffart has unveiled a roster of nine Ethereum Futures ETFs that are poised to receive expedited approval from the SEC, with a launch date set for October 2, 2023. 
This signals a growing interest in Ethereum futures as an investment avenue. 
In conclusion, Bitwise’s strategic moves in the cryptocurrency ETF space, coupled with Invesco’s foray into Ethereum ETFs, underscore the evolving landscape of crypto investments. 
The fate of spot Bitcoin ETFs remains uncertain, hinging on regulatory decisions and legal developments. 
Meanwhile, Ethereum’s prominence continues to rise, attracting investors seeking diversified opportunities in the cryptocurrency market. 
Other Stories: 
<a href="https://www.cryptointelligence.co.uk/marathon-digital-mines-invalid-bitcoin-block-in-experiment-network-resilience-proves-robust/">Marathon Digital Mines Invalid Bitcoin Block in Experiment, Network Resilience Proves Robust</a> 
<a href="https://www.cryptointelligence.co.uk/chinese-consultant-fined-144907-for-unauthorized-vpn-use/">Chinese Consultant Fined $144,907 for Unauthorized VPN Use</a> 
<a href="https://www.cryptointelligence.co.uk/do-kwon-requests-extradition-denial-amidst-sec-investigation/">Do Kwon Requests Extradition Denial Amidst SEC Investigation</a>

Bitwise Gears Up for Ethereum ETF Launch as Bitcoin ETF Approval Remains Uncertain

Crypto Intelligence

Other articles published on Oct 2, 2023

What Is Black-Box AI, How Does It Work?

Inilah Tiga Sektor Kripto Wajib Lirik Tahun 2024

Solana Outperforms Resistance But Remains Below $22.00 High

Worldwide Webb Land NFT Project: Battle, Build, and Forge

How Do AI’s Inherent Imperfections Define Tomorrow’s Technological Horizon?

Why Ripple’s IPO Could Skyrocket to Amazon-Level Valuations

Join our free newsletter for daily crypto updates!