Bitwise, a provider of index and beta crypto funds, has filed for two new exchange-traded funds (ETFs) focused on Bitcoin and Ethereum futures. One of the ETFs, the Bitcoin and Ether Market Cap Weight Strategy ETF, aims to offer market capitalization-weighted exposure to Bitcoin and Ether futures contracts without directly investing in the cryptocurrencies.
The ETF will invest mainly in cash-settled, front-month futures contracts and may also include back-month contracts. The filing brings the total number of Ether futures ETF filings to twelve, and analysts now estimate a 65% probability of a Bitcoin ETF approval due to a perceived softening stance by the chairman of the U.S. Securities and Exchange Commission.
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