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After having amended its software for the spot Bitcoin Exchange-Traded Fund (ETF), crypto asset administration agency Bitwise Asset Management introduced that buying and selling for 2 of its Ethereum themed ETFs is about to start on October 2, 2023.

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Bitwise Ethereum Based ETF Launch

The firm introduced that buying and selling would start for the Bitwise Ethereum Strategy ETF ($AETH) and the Bitwise Bitcoin and Ether Equal Weight Strategy ETF ($BTOP). Bitwise mentioned that with this, traders will be capable to achieve publicity to CME Ether futures via the extensively standard and controlled ETF format “for the first time.” In a statement, the corporate’s CIO Matt Hougan mentioned,

“The portfolio opportunity with Ethereum is broader than Bitcoin. Some investors consider Ethereum an alternative, while others see it as a traditional growth investment. It has elements of both.”

Several corporations that are vying for the spot Bitcoin ETF approval have utilized for the Ethereum ETF race. In a contemporary, CoinGape reported that asset administration agency Invesco can be excited about launching the Invesco Galaxy Ethereum ETF.

Bitcoin ETFs: More Delays

Earlier, Bitwise was joined by the likes of Blackrock and Invesco within the checklist of companies who obtained a delay on determination from the U.S. Securities and Exchange Commission (SEC) across the Bitcoin ETF filings. This meant that the likelihood of a spot Bitcoin ETF approval within the yr 2023 is nearly zero. However, the Grayscale lawsuit verdict in favor of the conversion of Grayscale Bitcoin Trust (GBTC) right into a Bitcoin ETF may grow to be the sport changer when the US SEC takes a choice someday in 2024. On August 29, 2023, a US Court cleared the best way for approval of the Grayscale spot Bitcoin ETF, rejecting the company’s argument.

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Anvesh reviews main crypto updates round U.S. regulation and market shifting developments. Published over 1,200 articles thus far on crypto and blockchain. A proud dropout of University of Massachusetts, Lowell. Can be reached at anvesh@coingape.com or twitter.com/BitcoinReddy or linkedin.com/in/anveshreddybtc/

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