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Bitwise Asset Management has launched the Bitwise Ethereum ETF (ETHW) on the NYSE, offering direct investment in ether (ETH) with a 0.20% management fee. Key features include:
1. Fee waived for first 6 months on initial $500 million in assets
2. 10% of gross profits donated to Ethereum open-source developers
3. Transparency through published public wallet addresses
4. Built on success of Bitwise's spot bitcoin ETP, BITB
ETHW is Bitwise's 8th publicly traded crypto fund and 20th crypto product overall. The firm aims to provide mainstream access to crypto's potential through familiar investment vehicles.
Bitwise Asset Management announced the launch of the Bitwise Ethereum ETF (ETHW) on the NYSE, set to begin trading on July 23. This marks the debut of spot Ethereum funds in the U.S. Key features include:
- Low management fee of 0.20%, waived for the first six months on the first $500 million in assets
- Direct investment in ether (ETH)
- 10% of fund profits to be donated to Ethereum developers
- Public disclosure of wallet addresses for transparency
The launch follows Bitwise's successful Bitcoin ETF (BITB), which reached $2.7 billion in AUM. ETHW aims to provide investors exposure to Ethereum's potential in areas like DeFi, NFTs, and stablecoins.
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