Bitwise Asset Management, a U.S.-based cryptocurrency index fund, announced that its two Ethereum futures exchange-traded funds (ETFs), the Bitwise Ethereum Strategy ETF (AETH) and the Bitwise Bitcoin and Ether Equal Weight Strategy ETF (BTOP), will start trading on Monday, Oct. 2. 

See related article: Valkyrie CIO expects US spot Bitcoin ETF approval in Q2 2024

Fast Facts

  • Investors can access the Chicago Mercantile Exchange Ether futures through the regulated ETF format, Bitwise said. 
  • “Ethereum now has billions in revenue, millions of users, and thousands of distinct apps and developers,” said Hunter Horsley, the chief executive officer of Bitwise, in a press release. “AETH and BTOP give investors the opportunity to participate in that growth with confidence through regulated ETFs.”
  • The development comes four days after asset manager VanEck released two commercials about its upcoming Ethereum Strategy ETF (EFUT).
  • The U.S. Securities and Exchange Commission (SEC) asked Ether ETF issuers to update their applications until last Friday, aiming to accelerate the launch of Ether futures ETFs last week, before the potential governmental shutdown that was averted on October 1, according to Eric Balchunas, an ETF analyst at Bloomberg.
  • Along with Bitwise’s Ether ETF products, Valkyrie, ProShares, Hashdex and Volatility Shares Trust could launch their own Ether ETF products on Monday, tweeted James Seyffart, another ETF analyst at Bloomberg.
  • Ether rose 2.75% to US$1,732 in the 24 hours leading up to 7:20 p.m. in Hong Kong, its highest price in more than six weeks, according to CoinMarketCap.

See related article: What Europe’s new spot Bitcoin ETF means for global markets