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Sujit Kumar
Apr 1, 2024
by Sujit Kumar

Bitwise Considers Ethereum ETP Amidst Upcoming Regulatory Decisions

Bitwise Considers Ethereum ETP

Table of contents

  1. Concerns Over Regulatory Timing
Cryptocurrency asset management firm Bitwise is considering launching an exchange-traded product (ETP) covering Ethereum's ecosystem of layer 2 networks and applications, according to the firm's chief investment officer, Matt Hougan.

In an interview with Forbes, Hougan expressed both excitement and concern regarding the potential ETP. He emphasized his confidence in the evolution of the Ethereum ecosystem but acknowledged the uncertainties surrounding which layer 2s and applications will emerge as leaders.

Hougan highlighted the significance of the Dencun upgrade, stating that the market is undervaluing its importance by a factor of 10 or 20. He believes the upgrade will be a game-changer for Ethereum's ecosystem.

Concerns Over Regulatory Timing

Hougan expressed concerns about the market's readiness for a spot Ethereum exchange-traded fund (ETF) by May. He hopes the U.S. Securities and Exchange Commission (SEC) delays approval until December to allow financial advisers to adjust to recently approved spot Bitcoin ETFs.

Bitwise filed forms with the SEC to list a spot Ether ETF on March 28, joining other applicants vying for approval. However, some analysts believe that the SEC's apparent reluctance to engage with applicants could delay approvals.

Despite regulatory uncertainties, Bitwise remains optimistic, with its Bitwise Bitcoin ETF amassing significant flows. As discussions about Ethereum's regulatory fate continue, Bitwise's potential Ethereum ETP signals a growing interest in the cryptocurrency's ecosystem.

 

Disclaimer:The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
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Bitwise Considers Ethereum ETP
Bitwise Considers Ethereum ETP Amidst Upcoming Regulatory Decisions
Sujit Kumar
Sujit received his Bachelors in Science from the LNMU Darbhanga. He is currently working as a Content Strategist. He has more than three years of professional experience in information systems, security policies, technologies, and Cryptocurrency. He has published 6 books in the area of information security and assurance. He has published more than 50 research articles in leading journals Regarding the Latest and Breaking Crypto News and updates. His research interests include access control, computer forensics, Digital Marketing, Web development, business hacks, player experience, and virtual storytelling.