Bitwise To Launch Two Ethereum Futures ETFs

Crypto index fund manager Bitwise Asset Management on Friday announced its intention to launch two new Ethereum ETH/USD futures ETFs.

These ETFs, named AETH and BTOP, are set to be listed and commence trading on Oct. 2.

This move by Bitwise was seen as a strategic step in expanding its offerings in the rapidly evolving crypto market.

In light of these developments, industry experts and enthusiasts were eagerly awaiting the upcoming Benzinga Future of Digital Assets conference on Nov. 14. The event promises to shed light on the future trajectory of digital assets and the potential implications of such ETF launches.

Further details revealed the Bitwise Ethereum Strategy ETF, with the ticker AETH, aims to invest predominantly in the regulated Chicago Mercantile Exchange (CME) Ether futures, with a primary focus on front-month contracts.

On the other hand, the Bitwise Bitcoin and Ether Equal Weight Strategy ETF, BTOP, is designed to provide investors with equal exposure to regulated CME Bitcoin and Ether futures.

Both these funds have entrusted the Bank of New York Mellon Corp BK as their custodian and come with an expense ratio of 0.85%.

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Meanwhile, Valkyrie, another prominent asset manager, recently received approval to incorporate Ethereum futures into its existing Bitcoin BTC/USD ETF BTF.

Valkyrie has outlined plans to allocate an initial 10% of its fund to Ether, with intentions to raise this allocation to 50% by Monday.

Meanwhile, VanEck, yet another contender in the asset management arena, has teased its upcoming Ether futures ETF through a promotional video, hinting at its imminent launch.

ETFs present a cost-effective and streamlined avenue for investors to speculate on the performance of a range of assets, including stocks, commodities and cryptocurrencies. Their high liquidity further enhances their appeal to a broad spectrum of investors.

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