Bitwise is set to launch two new ether futures ETF products next Monday, as stated by the asset management company. They have submitted the final paperwork to the Securities and Exchange Commission (SEC) for the Bitwise Ethereum Strategy ETF (AETH) and the Bitwise Bitcoin and Ether Equal Weight Strategy ETF (BTOP).
The first ETF, AETH, will invest in regulated Chicago Mercantile Exchange ether futures, primarily focusing on front-month contracts. Meanwhile, the second ETF, BTOP, will offer equal exposure to regulated CME bitcoin futures and CME ether futures.
Both funds will have Bank of New York Mellon as their custodian, and they come with an expense ratio of 0.85%. Bitwise’s ether futures products provide investment opportunities related to cryptocurrencies without direct exposure to the underlying asset.
In addition to Bitwise, Valkyrie Investments and VanEck are also expected to commence trading of ether futures products in the upcoming week.
While the SEC appears poised to allow trading of ether futures funds, it has opted to delay applications for similar funds based on spot ether.
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