The two prospective ETFs are the Bitwise Ethereum Strategy ETF (ticker: AETH) and the Bitwise Bitcoin and Ether Equal Weight Strategy ETF (ticker: BTOP).
SAN FRANCISCO--(BUSINESS WIRE)--Bitwise Asset Management, the largest crypto index fund manager in America, today filed Form 8-As for two new Ethereum futures ETFs, AETH and BTOP, which intend to list and begin trading on Monday, October 2.1
Today, Bitwise also filed amended registration statements for both ETFs (AETH, BTOP).
The Bitwise Ethereum Strategy ETF (ticker: AETH) plans to invest in regulated Chicago Mercantile Exchange (CME) Ether futures focused on front-month contracts. The fund custodian is Bank of New York Mellon, and the expense ratio is 0.85%.
The Bitwise Bitcoin and Ether Equal Weight Strategy ETF (ticker: BTOP) plans to invest with equal exposure to regulated CME Bitcoin futures and CME Ether futures. The fund custodian is Bank of New York Mellon, and the expense ratio is 0.85%.
For more information on Bitwise Asset Management, visit www.bitwiseinvestments.com.
About Bitwise Asset Management
Based in San Francisco, Bitwise is one of the largest and fastest-growing crypto asset managers, offering both index and active strategies across a wide array of investment vehicles. The firm is known for creating the world’s largest crypto index fund and a broad suite of products spanning Bitcoin, Ethereum, DeFi, NFTs, the Metaverse, and crypto-focused equity indexes. Bitwise focuses on partnering with financial advisors and investment professionals to provide quality education and research. The team at Bitwise combines expertise in technology with decades of experience in traditional asset management and indexing, coming from firms including BlackRock, Blackstone, Meta, and Google, as well as the U.S. Attorney’s Office. Bitwise is backed by leading institutional investors and asset management executives, and has been profiled in Institutional Investor, CNBC, Barron’s, Bloomberg, and The Wall Street Journal.
Carefully consider the investment objectives, risk factors, charges, and expenses of the Bitwise Bitcoin and Ether Equal Weight Strategy ETF (BTOP) before investing. This and additional information can be found in the Fund’s full or summary prospectus, which may be obtained by visiting https://www.btopetf.com/materials. Investors should read it carefully before investing.
Investing involves risk, including the possible loss of principal. The Fund invests in Bitcoin Futures Contracts and Ether Futures Contracts. The Fund does not invest directly in or hold either bitcoin or Ethereum. Risk of Loss. Bitcoin, Ethereum, Bitcoin Futures Contracts, and Ether Futures Contracts are relatively new investments. The value of an investment in the Fund could decline significantly and without warning, including to zero. Liquidity Risk. The market for Bitcoin and Ether Futures Contracts is still developing and may be subject to periods of illiquidity. During such times it may be difficult or impossible to buy or sell a position at the desired price. Market disruptions or volatility can also make it difficult to find a counterparty willing to transact at a reasonable price and sufficient size. Frequent Trading Risk. The Fund regularly purchases and subsequently sells (i.e., “rolls”) individual futures contracts throughout the year so as to maintain a fully invested position. This frequent trading of contracts may increase the amount of commissions or markups to broker-dealers that the Fund pays when it buys and sells contracts, which may detract from the Fund’s performance. Cost of Futures Investment Risk. Bitcoin and Ether Futures Contracts have historically experienced extended periods of contango and may cause Bitcoin and Ether Futures Contracts, and the Fund, to underperform the spot price of bitcoin or Ethereum. Bitcoin and Ethereum are relatively new innovations and the market for them is subject to rapid price swings, changes and uncertainty. New Fund Risk. The Fund is a recently organized investment company with a limited operating history. As a result, prospective investors have a limited track record or history on which to base their investment decision. Nondiversification Risk. As a nondiversified fund, the Fund may hold a smaller number of portfolio securities than many other funds. The value of the Fund Shares may be more volatile than the values of shares of more diversified funds.
Bitwise Investment Manager, LLC serves as the investment advisor of the Fund. The Fund is distributed by Foreside Fund Services, which is not affiliated with Bitwise Investment Manager LLC, Bitwise, or any of its affiliates.
Carefully consider the investment objectives, risk factors, charges, and expenses of the Bitwise Ethereum Strategy ETF (AETH) before investing. This and additional information can be found in the Fund’s full or summary prospectus, which may be obtained by visiting https://www.aethetf.com/materials. Investors should read it carefully before investing.
Investing involves risk, including the possible loss of principal. The Fund invests in Ether Futures Contracts. The Fund does not invest directly in or hold Ethereum. Risk of Loss. The prices of Ethereum and Ether Futures Contracts have historically been highly volatile. The value of the Fund’s investments in Ether Futures Contracts – and therefore the value of an investment in the Fund – could decline significantly and without warning, including to zero. Liquidity Risk. The market for Ether Futures Contracts is still developing and may be subject to periods of illiquidity. During such times it may be difficult or impossible to buy or sell a position at the desired price. Market disruptions or volatility can also make it difficult to find a counterparty willing to transact at a reasonable price and sufficient size. Frequent Trading Risk. The Fund regularly purchases and subsequently sells (i.e., “rolls”) individual futures contracts throughout the year so as to maintain a fully invested position. This frequent trading of contracts may increase the amount of commissions or markups to broker-dealers that the Fund pays when it buys and sells contracts, which may detract from the Fund’s performance. Cost of Futures Investment Risk. Ether Futures Contracts have historically experienced extended periods of contango and may cause Ether Futures Contracts and the Fund to underperform the spot price of Ethereum. Ethereum Risk. Ethereum is a relatively new innovation and the market for Ethereum is subject to rapid price swings, changes and uncertainty. New Fund Risk. The Fund is a recently organized investment company with a limited operating history. As a result, prospective investors have a limited track record or history on which to base their investment decision. Nondiversification Risk. As a nondiversified fund, the Fund may hold a smaller number of portfolio securities than many other funds. The value of the Fund Shares may be more volatile than the values of shares of more diversified funds.
Bitwise Investment Manager, LLC serves as the investment advisor of the Fund. The Fund is distributed by Foreside Fund Services, which is not affiliated with Bitwise Investment Manager LLC, Bitwise, or any of its affiliates.
1 SEC Form 8-A is used by companies seeking to register securities, and must be submitted to the Securities and Exchange Commission (SEC) before securities can be offered on an exchange.
Contacts
Media Contact
Frank Taylor/Stephanie Dressler
Dukas Linden Public Relations
Bitwise@DLPR.com