Bitwise Eyes Uniswap ETF Amid Market Uncertainty
As Bitcoin's price fluctuations capture market attention, Bitwise is quietly advancing a new crypto ETF linked to Uniswap (UNI). The firm has registered a Bitwise Uniswap ETF trust in Delaware, indicating preparation for a potential ETF tied to the protocol.
Concerns About Uniswap ETF
The filing has garnered interest within the DeFi sector, yet analysts urge caution. Delaware trust registrations often serve as preliminary steps, allowing firms like Bitwise to act swiftly if regulations shift. Currently, the SEC is not reviewing a Uniswap ETF, nor is there a timeline for a formal filing, suggesting this move is more preparatory than actionable.
Market Reaction
Despite the preliminary nature of the filing, UNI's token price responded positively, trading at $4.82 with a 3.83% increase over 24 hours. This is notable as the broader ETF market experiences varied signals. While UNI gained from the Bitwise filing, Ethereum (ETH) recorded significant outflows totaling $63.53 million. Conversely, Ripple (XRP) led inflows with $9.16 million, followed by Solana (SOL) with $1.87 million, and Chainlink (LINK) with $439.03K, indicating a selective investor interest.
Further Observations
UNI has recently underperformed in the broader market despite developments such as the UNIfication proposal, a 100 million UNI token burn, and fee adjustments by Uniswap Labs. This lackluster performance compared to Bitcoin and other altcoins remains a concern for investors.
Final Thoughts
- Bitwise’s filing reflects long-term intent without immediate SEC review or timeline.
- Altcoin ETF flows indicate selective interest rather than broad market confidence.