News View Non-AMP

Bitwise Makes History! Two Ethereum ETFs to Launch on October 2nd

Published by
Qadir AK

Bitwise Asset Management is gearing up to commence trading for two Ethereum-themed ETFs, marking a significant milestone for crypto investors. The introduction of these Exchange-Traded Funds (ETFs) will provide investors with a regulated and widely embraced avenue to invest in Ethereum, a first of its kind.

Prepare for this on October 2, 2023. Read all about it below!

Bitwise’s AETH & BTOP

Bitwise unveiled that it will be launching two specialized ETFs: the Bitwise Ethereum Strategy ETF (ticker: $AETH) and the Bitwise Bitcoin and Ether Equal Weight Strategy ETF (ticker: $BTOP). According to Matt Hougan, the Chief Investment Officer at Bitwise, Ethereum offers a broader investment portfolio than Bitcoin.

“Ethereum has elements of both a traditional growth investment and an alternative asset, making it a compelling choice for a wide range of investors,” Matt Hougan.

The Competition is Fierce

Bitwise isn’t alone in its Ethereum ETF ambitions. Asset management firm Invesco, already a key player in the financial markets, recently announced its intent to launch the Invesco Galaxy Ethereum ETF. This move comes amidst a backdrop of regulatory delays for Bitcoin ETFs, which has seen big names like Blackrock and Invesco awaiting decisions from the U.S. Securities and Exchange Commission (SEC).

Though the prospect of a Bitcoin ETF approval in 2023 is dim, the future is not all bleak for crypto ETFs. The verdict in favor of converting the Grayscale Bitcoin Trust (GBTC) into a Bitcoin ETF could be a game-changer when the SEC makes its decision in 2024. James Seyffart, a Bloomberg analyst, recently revealed that as many as nine Ethereum Futures ETFs have been earmarked for SEC accelerated approval on October 2.

How is Ethereum’s Investment Appeal Different?

Ethereum’s attractiveness as an investment lies in its relatively low correlation with traditional equities such as the S&P 500 Index, Nasdaq-100 Index, and Russell 2000 Index over the past two years. This low correlation makes Ethereum an enticing option for diversification. Additionally, its real-world applications render it comprehensible and valuable for experienced investors, according to Hougan.

Bitwise Is Not Slowing Down

As part of Bitwise’s broader strategy, the launch of these Ethereum ETFs adds to its already diverse line-up of over 20 investment products. This includes five other ETFs, private placement funds, multi-strategy solutions, and separately managed accounts.

As one of the largest and fastest-growing crypto asset managers in America, Bitwise’s new Ethereum ETF offerings are poised to attract not just crypto enthusiasts but also traditional investors looking to diversify their portfolios.

Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

Recent Posts

XRP News Today: Ripple Transfers $498M to Unknown Wallet

Ripple recently moved over 230 million XRP, valued at around $498 million, to an unknown…

June 7, 2025

Donald Trump Earns $1.2B From Crypto

Donald Trump, often called “The Crypto President,” has reportedly earned over $1 billion from crypto…

June 7, 2025

SUI Price Gears Up for a Breakout: Here are the Key Levels to Watch Following the Golden Cross

The SUI price triggered a strong reversal before the daily close, pushing the levels back…

June 7, 2025

Ethereum (ETH) Price Prediction: Can Rising Demand from BlackRock Fuel Bullish Momentum?

Ethereum (ETH) price experienced a similar volatility to Bitcoin (BTC) in the past 24 hours,…

June 7, 2025

Bitcoin (BTC) Price Analysis: Dead Cat Bounce or Full Blown Rebound?

After a major downfall in the relationship between the two most powerful pro-crypto individuals, Elon…

June 7, 2025

World Liberty Announces Strategic Acquisition of Official Trump ($TRUMP) and the Closure of Trump Meme Wallet

Eric Trump, the Executive Vice President of the Trump Organization, has announced a strategic partnership…

June 7, 2025