To convert its Bitcoin futures exchange-traded fund (ETF) into a Bitcoin and Ether equal weight strategy exchange-traded fund (ETF), Bitwise publishes an updated prospectus. This is comparable to Valkyrie’s decision, made in response to a spate of Ethereum-focused ETF filings, to change its Bitcoin Strategy ETF to the Bitcoin and Ether Strategy ETF.
Bitcoin Futures ETF has been Changed to a Bitcoin and Ether Strategy ETF by Bitwise
Bitwise has changed its Bitcoin and Ether Equal Weight Strategy ETF into the Bitcoin and Ether Strategy Optimum Roll ETF, according to a filing with the US SEC on August 10. BTOP is used as the ticker instead of BITF.
James Seyffart, an analyst for Bloomberg ETFs, observed that the implementation date will be October 9. The change from Bitcoin Strategy ETF to Bitcoin and Ether Strategy ETF was made by Valkyrie a few days prior.
We’re in new territory. It’s been 13 days since Volatility Shares was the first in a wave of Ethereum futures ETF filings. Back in 2021, it was just a couple of days before the SEC forced withdrawals, and it was just ~7 days in May of this year. The odds of launching increase as time goes by.
Seyffart
Ethereum ETFs are more likely to Get Approval
Eric Balchunas, an analyst with Bloomberg ETFs, also stated that the SEC had previously instructed Ether Futures ETF filers to withdraw their filing five to six days after the initial filing date. However, Day 13 has passed with no withdrawals. The market entry of an ETF focused on Ethereum is anticipated for mid-October, according to Bloomberg analysts.
Analysts claim that compared to Bitcoin ETFs, Ethereum ETFs have a stronger chance of being approved by the SEC. The majority of spot Bitcoin ETF filings were rejected by the SEC under Chair Gary Gensler.
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