Bitwise Files Delaware Trust for Potential Uniswap ETF

• Bitwise registers Uniswap ETF trust, signaling early DeFi ETF positioning.
• Bitwise filing acts as a placeholder, keeping ETF optionality open for future moves.
• Uniswap shows strong liquidity, but fragmented volumes, governance, and custody pose risks.

Bitwise has established a Delaware statutory trust under the name “Bitwise Uniswap ETF,” according to state records filed Tuesday. The entity formation positions the asset manager to pursue a decentralized finance protocol-linked exchange-traded fund should it choose to advance a federal regulatory submission.

State-level registrations typically occur months before Securities and Exchange Commission filings, with many never progressing beyond initial formation. The legal structure creates optionality without guaranteeing product launch or active regulatory review.

Strategic Positioning After Enforcement Closure

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