In a strategic move that mirrors recent actions by Valkyrie Funds, Bitwise Invest has filed an updated prospectus to transition its Bitcoin futures ETF (BITC) into the “Bitwise Bitcoin and Ethereum Equal Weight Strategy ETF”. This shift, set to take effect on October 9, 2023, is seen by many as a tactical play in the race to establish the first Ethereum Futures ETF in the US.

Bitwise Skips The Ethereum ETF Queue

James Seyffart, a Bloomberg ETF analyst, remarked on the development, stating, “Bitwise Invest just filed an updated prospectus to change BITC from a Bitcoin futures ETF to the Bitwise Bitcoin and Ether Equal Weight Strategy ETF. This is like the move that Valkyrie Funds pulled a few days ago. The effective date here would be 10/9/23.” Seyffart had previously commented on …