Bitwise will be introducing its customers to CME futures through the AETH and BTOP products that expand the company’s suite of crypto products amid heightened demand from institutional investors.
Leading crypto index fund manager in the United States Bitwise announced that it will be launching two of its Ethereum-themed ETFs dubbed the Bitwise Ethereum Strategy ETF (AETH) and the Bitwise Bitcoin and Ether Equal Weight Strategy ETF (BTOP). According to the announcement, the two Bitwise Ether-themed ETFs will tap into CME futures products, hence no obligations to invest in the underlying digital asset product. Nonetheless, the launch of two Ether-themed futures ETFs is an indication of rising demand from institutional investors.
The bank custodian of the two Ethereum-themed funds is the Bank of New York Mellon.
“The two funds continue to expand Bitwise’s leading suite of crypto products, providing investors with a wide set of options for accessing opportunities in the space,” Bitwise CEO Hunter Horsley noted.
In the past few years, the Ether core developers have heightened their activities intending to improve the layer one blockchain to remain competitive. Moreover, the explosive growth of the decentralized financial ecosystem on the Ethereum network, which had over $21 billion in total value locked (TVL), has signified its future growth prospects amid the two-year-long bear market.
“As the leading operating system for crypto, Ethereum has spread like wildfire. With blue-chip brands like Nike, Starbucks, Adidas, Pepsi, PayPal, JPMorgan, and others building and using applications on Ethereum, the momentum is only building. AETH and BTOP allow investors to participate in that growth with confidence through regulated ETFs,” Horsley added.
Bitwise Further Stamps Its Digital Assets Offerings via the Ethereum Network
According to Bitwise CIO Matt Hougan, the Ethereum network has both elements of a traditional growth investment tool and an alternative product, which most investors identify with. Mind you, Ethereum’s correlation with traditional equities has been significantly low in the past two years amid its heightened usage and cash inflow. Interestingly, Bitwise noted that most investors are beginning to opt for Ethereum to Bitcoin due to its economic structure and growth potential.
Nonetheless, Bitwise has other crypto products amounting to five ETFs out of 20 of its portfolio. Apart from the recently approved crypto products, Bitwise also offers other products including Bitwise Crypto Industry Innovators ETF (BITQ), Bitwise Bitcoin Strategy Optimum Roll ETF (BITC), and Bitwise Web3 ETF (BWEB).
Market Outlook
The cryptocurrency market is expected to attract more institutional funds in the coming quarters amid heightened inflation around the world. Moreover, most of the top-rated crypto assets have outperformed the traditional YTD, hence recording a notable cash inflow. Notably, most investors are eying for a possible crypto breakout in the next few months fueled by the Bitcoin halving narrative.
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