Bitwise is set to launch two Ethereum-themed ETFs on Monday, October 2nd, allowing investors to gain exposure to CME Ether futures through the ETF format. The two funds, the Bitwise Ethereum Strategy ETF (AETH) and the Bitwise Bitcoin and Ether Equal Weight Strategy ETF (BTOP), will have an expense ratio of 0.85% each and will be custodianed by the Bank of New York Mellon (BNY).Matt Hougan, CIO of Bitwise, believes that Ethereum has a broader portfolio opportunity than Bitcoin, and that some investors view it as an alternative while others view it as a traditional growth investment. He also noted that the asset’s correlation to traditional equities over the last two years has remained low and trending lower.Bitwise CEO Hunter Horsley commented on the upcoming ETFs, saying that Ethereum has “billions in revenue, millions of users, and thousands of distinct apps and developers” and that “blue-chip brands like Nike, Starbucks, Adidas, Pepsi, PayPal, JPMorgan, and others” are building and using applications on Ethereum.Valkyrie Investments and VanEck are also expected to launch Ethereum futures products next week. While the SEC is reportedly expediting Ethereum futures funds approvals, it has opted to postpone the processing of applications for similar funds tied to spot Ethereum. Four US lawmakers have called upon the SEC to promptly approve one, arguing that it was illogical for the regulator to persist in prioritizing futures ETFs over spot products.

This News Article was automatically generated by Bob the Bot (AI)

Information	Details
Geography	North America
Countries
Sentiment	neutral
Relevance Score	8
People	VanEck., Hunter Horsley, SEC, Matt Hougan, Bank of New York Mellon
Companies	Securities and Exchange Commission (SEC), Bitwise, Bank of New York Mellon (BNY), VanEck, Valkyrie Investments
Currencies	Ether Futures, Bitcoin, Ethereum, Bounty0x, US Dollar
Securities	None