[DigitalToday reporter Chi-gyu Hwang] Bitwise filed with the U.S. Securities and Exchange Commission to launch 11 single-token cryptocurrency exchange-traded funds, moving to expand the altcoin ETF market, Cointelegraph reported on Wednesday.
The filings include Aave (AAVE), Uniswap (UNI), Zcash (ZEC), Bittensor (TAO), Sui (SUI) and Near (NEAR).
Bitwise currently runs bitcoin, ether, Solana and XRP ETFs, and the newly filed ETFs differ from its existing products. The funds would invest up to 60 percent of assets directly in the token. The remaining 40 percent would use token-based exchange-traded products and derivatives to adjust exposure.
Other major issuers including VanEck and 21Shares are also pushing to launch altcoin-based ETFs tied to Solana (SOL), XRP (XRP), Dogecoin (DOGE) and Avalanche (AVAX).
Chi-gyu Hwang
delight@d-today.co.kr