Bitwise has stated that trading for two of its Ethereum-themed Exchange-Traded Funds (ETFs) would start on October 2, 2023.
Investors will be able to access CME Ether futures using the widely used and regulated ETF format “for the first time,” according to Bitwise. CIO Matt Hougan of the business said in a statement,”
“The portfolio opportunity with Ethereum is broader than Bitcoin. Some investors consider Ethereum an alternative, while others consider it a traditional growth investment. It has elements of both.”
Several businesses have submitted applications for the Ethereum ETF race, competing for a seat in the approval of the Bitcoin ETF. The asset management company Invesco is also interested in developing the Invesco Galaxy Ethereum ETF.
Blackrock and Invesco previously joined Bitwise on the list of companies that received a decision postponement from the U.S. Securities and Exchange Commission (SEC) over the Bitcoin ETF filings.
As a result, there is no chance that a spot Bitcoin ETF will be approved in 2023. However, when the US SEC makes a decision sometime in 2024, the Grayscale case verdict in favor of converting Grayscale Bitcoin Trust (GBTC) into a Bitcoin ETF could prove to be a game-changer.
A US Court rejected the agency’s argument on August 29, 2023, paving the way for the approval of the Grayscale spot Bitcoin ETF. The complete list of the nine Ethereum Futures ETFs that will receive accelerated permission from the SEC to begin trading on Monday, October 2, 2023, was released by Bloomberg analyst James Seyffart.
