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News

Bitwise Joins The Race With 2 Ether Futures ETFs, SEC Now Has Totaling 12 Applications

August 4, 2023 - Around 2 mins mins to read

Key Points:

  • Bitwise files for two Ethereum futures ETFs, joining twelve total applications.
  • ETFs offer Bitcoin and Ether exposure through market cap and equal-weight strategies.
  • Six other companies also apply for Ethereum futures ETFs, reflecting rising demand.
Bitwise has recently filed for two exchange-traded funds (ETFs) related to Ethereum futures, adding to the growing count of such applications.
Bitwise Joins The Race With 2 Ether Futures ETFs, SEC Now Has Totaling 12 Applications

The company’s latest products include the “Bitwise Bitcoin and Ether Market Cap Weight Strategy ETF” and the previously announced “Bitwise Bitcoin and Ether Equal Weight Strategy ETF,” according to an announcement by Bloomberg ETF analyst James Seyffart.

The “Bitwise Bitcoin and Ether Market Cap Weight Strategy ETF” aims to offer exposure to Bitcoin and Ether futures contracts based on their respective market capitalization, without directly investing in the cryptocurrencies themselves.

Managed by Bitwise Investment Manager and Vident Advisory, the ETF’s allocation between Bitcoin and Ether futures contracts is determined by their market cap and rebalanced monthly.

Both ETFs primarily invest in cash-settled, front-month futures contracts, with potential inclusion of back-month contracts. The filing highlights the standardized, cash-settled nature of these futures contracts, traded on the Chicago Mercantile Exchange (CME).

With the addition of Bitwise’s applications, the total number of Ethereum futures ETF filings reaches twelve, indicating the continued interest in this financial product.

As Coincu reported, Proshares and Bitwise have jointly submitted three futures ETF applications related to “Bitcoin and Ethereum” to the Securities and Exchange Commission (SEC).

Additionally, Direxion has submitted its own “Direxion Bitcoin Ether Strategy ETF” application. Six other companies have also filed applications for Ethereum futures ETFs, including Volatility Shares, Roundhill, VanEck, Grayscale, and Proshares.

The SEC is expected to make a decision on these applications by October 16, with a separate deadline of October 11 for the Volatility Shares application.

The surge in applications reflects the growing demand for cryptocurrency-related investment products and the continued development of the crypto-financial market.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Bitwise

Bitwise Bitcoin and Ether Equal Weight Strategy ETF

Bitwise Bitcoin and Ether Market Cap Weight Strategy ETF

CME

Ether Futures ETFs

SEC

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Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.
News

Bitwise Joins The Race With 2 Ether Futures ETFs, SEC Now Has Totaling 12 Applications

Key Points:

  • Bitwise files for two Ethereum futures ETFs, joining twelve total applications.
  • ETFs offer Bitcoin and Ether exposure through market cap and equal-weight strategies.
  • Six other companies also apply for Ethereum futures ETFs, reflecting rising demand.
Bitwise has recently filed for two exchange-traded funds (ETFs) related to Ethereum futures, adding to the growing count of such applications.
Bitwise Joins The Race With 2 Ether Futures ETFs, SEC Now Has Totaling 12 Applications

The company’s latest products include the “Bitwise Bitcoin and Ether Market Cap Weight Strategy ETF” and the previously announced “Bitwise Bitcoin and Ether Equal Weight Strategy ETF,” according to an announcement by Bloomberg ETF analyst James Seyffart.

The “Bitwise Bitcoin and Ether Market Cap Weight Strategy ETF” aims to offer exposure to Bitcoin and Ether futures contracts based on their respective market capitalization, without directly investing in the cryptocurrencies themselves.

Managed by Bitwise Investment Manager and Vident Advisory, the ETF’s allocation between Bitcoin and Ether futures contracts is determined by their market cap and rebalanced monthly.

Both ETFs primarily invest in cash-settled, front-month futures contracts, with potential inclusion of back-month contracts. The filing highlights the standardized, cash-settled nature of these futures contracts, traded on the Chicago Mercantile Exchange (CME).

With the addition of Bitwise’s applications, the total number of Ethereum futures ETF filings reaches twelve, indicating the continued interest in this financial product.

As Coincu reported, Proshares and Bitwise have jointly submitted three futures ETF applications related to “Bitcoin and Ethereum” to the Securities and Exchange Commission (SEC).

Additionally, Direxion has submitted its own “Direxion Bitcoin Ether Strategy ETF” application. Six other companies have also filed applications for Ethereum futures ETFs, including Volatility Shares, Roundhill, VanEck, Grayscale, and Proshares.

The SEC is expected to make a decision on these applications by October 16, with a separate deadline of October 11 for the Volatility Shares application.

The surge in applications reflects the growing demand for cryptocurrency-related investment products and the continued development of the crypto-financial market.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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