Overview
- Bitwise submitted the S-1 on Feb. 5 proposing the Bitwise Uniswap ETF as a trust designed to hold UNI directly.
- Coinbase Custody is named to hold the tokens, with Bitwise Investment Advisers serving as sponsor and manager.
- The trust plans to issue shares for trading on a U.S. exchange under a yet-to-be-announced ticker, and the filing says staking is excluded at launch.
- If approved, it would be the first U.S. ETF centered on a DeFi protocol’s native token, following the SEC’s 2025 closure of its Uniswap Labs probe.
- UNI traded lower around the filing, quoted near $3.22 and down about 14.5% over 24 hours, as issuers also pursue ETFs tied to tokens such as AAVE and Chainlink.