Industry observers noted that crypto asset manager Bitwise recently registered a legal trust entity named 'Bitwise Uniswap ETF' in Delaware. This move is seen as laying the groundwork for a potential future filing of an exchange-traded fund (ETF) related to Uniswap.
Strategic Move to Preserve Flexibility
Analysts suggest that such state-level registrations are typically the first step before a formal ETF filing with the U.S. Securities and Exchange Commission (SEC), though most of these registrations do not progress to the final application stage.
Experts believe Bitwise's action is a strategic play to position itself for a swift move should regulatory conditions shift favorably. However, it does not indicate an active SEC review or a definitive timeline for product launch.
- State-level registration often marks the initial phase of ETF development
- Many such trusts never proceed to formal SEC submissions
- This step could signal Bitwise's broader ambitions in the crypto space
As market interest in decentralized finance (DeFi) continues to rise, Bitwise's move might reflect its confidence in the long-term potential of the Uniswap ecosystem, though further regulatory developments remain to be seen.