Bitwise has submitted an application for an Ethereum Exchange-Traded Fund (ETF) after achieving favorable results with its Bitcoin ETF.
The application incorporates a correlation study between ETH and BTC, with the objective of presenting evidence to the SEC that an Ethereum ETF should be granted permission based on shared characteristics in market dynamics.
Bitwise is diversifying its investment portfolio by entering the Ethereum market with the introduction of the Bitwise Ethereum Strategy ETF (AETH), which provides investors with the opportunity to trade Ethereum futures.
Bitwise’s ETF proposal distinguishes itself from other rivals by not include any mention of staking, which sets it apart in the highly competitive ETF market.
The Ethereum ETF that is being proposed for listing on the NYSE is lacking specific information, such as the ticker symbol and the fees, in its public filings.
In addition, the 19b-4 paper includes a comprehensive correlation study that demonstrates a robust market connection between ETH spot and futures, comparable to Bitcoin, using the SEC’s own methodologies.
Furthermore, the Securities and Exchange Commission (SEC) has delayed making judgments on Ethereum Exchange-Traded Funds (ETFs) until the end of May.
This delay is indicative of the wider difficulties and expectations associated with incorporating cryptocurrencies into conventional financial instruments.
