Bitwise Positions Itself for a Potential Uniswap ETF
Bitwise Asset Management has registered a Delaware statutory trust under the name “Bitwise Uniswap ETF.” This legal move signals early preparations for a potential exchange-traded fund (ETF) linked to Uniswap, a decentralized finance protocol. While this step doesn’t guarantee immediate filings with the SEC, it establishes a foundation for future action.
A Strategic Move Following Regulatory Decisions
This initiative follows the U.S. Securities and Exchange Commission (SEC) decision in 2025 to close its investigation into Uniswap Labs. The investigation examined whether activities on the decentralized platform violated securities laws. The closure marked a shift in the SEC’s approach toward crypto enforcements, moving away from high-profile cases to more structural questions about market liquidity and custody.
Vincent Liu, Chief Investment Officer at Kronos Research, described this registration as a “placeholder step preserving optionality,” adding that it signifies positioning for the future without immediate plans for launching the ETF.
What Analysts Are Watching
Experts believe that launching such an ETF hinges on market dynamics like liquidity, decentralization, and operational security. For instance, custody solutions based on smart contracts, critical for decentralized platforms, could introduce operational risks, which the SEC would likely scrutinize.
According to Ryan Yoon, Senior Research Analyst at Tiger Research, this strategy leverages the regulatory clarity achieved with the SEC’s closed investigation. However, the actual ETF approval will depend on Uniswap’s decentralization, liquidity depth, and market integrity.
Uniswap’s Market Performance
Uniswap’s on-chain activity underpins its strong liquidity profile, though challenges remain. Its governance, which relies on decentralized decision-making, complicates pricing and oversight. In the past 24 hours, Uniswap recorded $161 million in trading volume for its UNI token and $859 million in platform transactions, according to CoinGecko data. These metrics illustrate the platform’s significance but also the hurdles it must overcome to meet regulatory benchmarks.
Conclusion
While the ETF’s launch remains speculative, Bitwise’s move highlights how financial firms are adapting to evolving regulatory landscapes in the crypto space. Decentralized finance continues to draw significant attention, offering opportunities for both retail and institutional investors. For individuals looking to invest in the rapidly growing DeFi market, staying updated is essential to make informed decisions.
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