Bitwise Files for First Spot Uniswap ETF With SEC
DeFi Meets Wall Street 🤝Bitwise has taken another bold step into crypto ETFs by filing for a spot Uniswap ETF with the US regulator. While the move signals growing interest in DeFi, the UNI token reacted sharply. Read on to see what this filing really means.
Quick Summary
- Bitwise has filed an S-1 to launch the first spot Uniswap ETF in the US
- The proposed ETF would track UNI, Uniswap’s native governance token
- UNI dropped around 16% shortly after the filing became public
Bitwise Asset Management has filed an S-1 registration statement with the U.S. Securities and Exchange Commission to launch the first-ever spot Uniswap exchange-traded fund. If approved, the ETF would give traditional investors direct exposure to UNI, the governance token of the Uniswap protocol, without needing to hold crypto directly.
According to the filing, the ETF would track the price of UNI and hold the token directly rather than using derivatives. This structure mirrors recent spot Bitcoin and Ethereum ETFs, which have seen strong demand since gaining regulatory approval. Bitwise has not yet disclosed the proposed ticker symbol or management fee.
Despite the long-term bullish signal, the market reaction was rough. UNI dropped by roughly 16% following news of the filing, falling from recent highs as traders appeared to sell the news. This kind of short-term dip is not unusual in crypto, especially when major regulatory headlines hit the market.
Bitwise Asset Management has been one of the most aggressive firms pushing crypto ETFs into the mainstream. The company already offers spot Bitcoin and Ethereum ETFs and has filed for other altcoin-focused products. This latest move suggests Bitwise sees decentralized finance as the next frontier for regulated crypto exposure.
Uniswap itself is the largest decentralized exchange in the world by trading volume. Built on Ethereum, it allows users to swap tokens directly from their wallets without relying on a central intermediary. The protocol’s governance token, UNI, is used for voting on upgrades and ecosystem decisions rather than paying trading fees.
The ETF filing also comes at a sensitive time for DeFi projects in the US. Regulators have increased scrutiny around decentralized platforms, raising questions about compliance, custody, and investor protection. Approval is far from guaranteed, and the SEC could still delay or reject the proposal.
That said, a successful Uniswap ETF would be a major milestone. It would signal growing acceptance of DeFi within traditional finance and could open the door for ETFs tied to other decentralized protocols.
In summary, Bitwise’s Uniswap ETF filing highlights how fast the gap between Wall Street and DeFi is closing. For crypto casino players and blockchain-savvy bettors, broader adoption of DeFi could mean deeper liquidity, more trust in on-chain systems, and smoother fiat-to-crypto onramps in the future.
This article is not financial advice. Cryptocurrency investments involve risk, and prices may fluctuate significantly. Always conduct your own research. Gambling involves financial risk and may not be suitable for everyone. Please play responsibly and seek help if gambling becomes a problem.
