In a significant development for the cryptocurrency landscape, asset management firm Bitwise has officially listed four exchange-traded products (ETPs) focused on Bitcoin (BTC) and Ether (ETH) on the London Stock Exchange. This move underscores Bitwise’s strategic intention to deepen its presence in the European financial market, catering primarily to institutional investors.
The newly listed products include the Bitwise Core Bitcoin ETP, the Bitwise Physical Bitcoin ETP, the Bitwise Physical Ethereum ETP, and the Bitwise Ethereum Staking ETP. As clarified in their April 16 announcement, these products are designed exclusively for institutional or qualified investors, effectively excluding retail participants from accessing these investment vehicles.
The introduction of these products comes at a time when digital assets are gaining increased traction in global financial markets. As institutional interest surges, the legitimacy of cryptocurrencies continues to strengthen, positioning them as a formidable asset class within traditional investment portfolios.
Reacting to Regulatory Shifts in the U.S.
The recent resignation of former Securities and Exchange Commission (SEC) Chairman Gary Gensler served as a catalyst for renewed optimism among asset managers, prompting a wave of crypto ETF applications across the United States. In anticipation of a potentially altered regulatory framework, various firms, including Bitwise, have rushed to file applications in hopes of capitalizing on a more favorable environment.
In January, Bitwise received preliminary approval from the SEC for its BTC and ETH ETF, allowing investors to gain exposure to both digital currencies within a single investment product. However, final approval is still pending before it can officially be listed.
Additionally, a noteworthy application has emerged from the New York Stock Exchange (NYSE), which is seeking a rule change to list the Bitwise Dogecoin ETF. If approved, this would mark the first U.S.-listed investment vehicle for Dogecoin (DOGE), indicating a significant breakthrough for a digital asset generally recognized as a memecoin.
Further signaling its commitment to diversification, Bitwise has also filed for an Aptos ETF, which aims to hold the native cryptocurrency of the high-throughput layer-1 blockchain, APT. Unlike other products, this ETF will not feature staking rewards.
Bitwise’s CIO, Matt Hougan, has projected that Bitcoin ETFs are set to attract approximately $50 billion in inflows during 2025. Institutional investment in crypto ETFs is anticipated to act as a stabilizing force, reducing the volatility typically associated with digital assets by directing capital flow from traditional sectors toward cryptocurrencies.
The rapid evolution of Bitwise’s offerings exemplifies the shifting dynamics surrounding cryptocurrency investment products and highlights the crucial role that regulatory frameworks play in shaping the future of this burgeoning market.
