US-based cryptocurrency index fund Bitwise Asset Management has revealed plans to launch two new Ethereum futures ETFs. The Bitwise Ethereum Strategy ETF (AETH) and the Bitwise Bitcoin and Ether Equal Weight Strategy ETF (BTOP) will start trading on October 2nd.
Bitwise’s ETFs will provide investors with regulated access to the Chicago Mercantile Exchange Ether futures. This move aims to grant investors a reliable and secure method of participating in the Ethereum ecosystem’s growth and development.
Noted as having billions in revenue, millions of users, and thousands of distinct applications and developers, Ethereum has experienced significant growth in recent times. Hunter Horsley, CEO of Bitwise, emphasizes that AETH and BTOP ETFs aim to offer investors the opportunity to partake in this growth confidently.
Coincidentally, VanEck, another asset management firm, recently released two commercials introducing their own forthcoming Ethereum Strategy ETF (EFUT). The U.S. Securities and Exchange Commission (SEC) urged Ether ETF issuers to expedite their applications ahead of the potential government shutdown that was later averted on October 1.
In addition to Bitwise’s ETF offerings, other players in the industry, including Valkyrie, ProShares, Hashdex, and Volatility Shares Trust, are also anticipated to launch their respective Ether ETF products on the same day, according to ETF analysts at Bloomberg.
As the news of these ETF launches circulated, the price of Ether experienced a boost. Within a 24-hour timeframe leading up to 7:20 p.m. in Hong Kong, Ether rose by 2.75%, reaching the highest price it has seen in over six weeks, as reported by CoinMarketCap.
