Crypto asset management company Bitwise has filed a formal application with the US regulator to launch an exchange-traded fund (ETF) dedicated to Uniswap. Bitwise aims to give traditional investors indirect access to the price movements of UNI, Uniswap’s native token.
Bitwise’s New ETF Move
Bitwise operates in the field of crypto asset management and offers investors portfolio diversity in different types of digital assets. The company’s fund for the Uniswap ETF aims to invest directly through the UNI token connected to the Uniswap protocol.
Bitwise’s application is also seen as a critical step for Uniswap, one of the important players in the decentralized finance ecosystem. Uniswap is known as a decentralized trading protocol operating on the Ethereum blockchain.
How Will the Process Work After Authorization?
It was stated that the company established a fund trust in Delaware on January 27, before the ETF application. This move, which is generally seen as a legal requirement in the banking and securities industry, stood out as a step taken before the federal application for the ETF was made.
Following the application, all eyes turned to the decision of the US Securities and Exchange Commission (SEC). It was reported that if Bitwise’s fund receives approval, Coinbase Custody Trust Company will undertake the custody service of the ETF.
Bitwise’s preparation for an ETF based on the decentralized finance protocol came to the fore immediately after the SEC investigation into Uniswap Labs ended in February 2025.
It was noted that the SEC had previously accused Uniswap Labs of selling unregistered securities and operating an unregistered exchange, but later abandoned this investigation.
UNI Price Affected by the Decline in the Crypto Market
Uniswap’s native token, UNI, lost 16.59 percent in value in the last 24 hours, falling to $3.15. This decline stands out as part of the sharp selling wave experienced in the overall crypto market.
According to market data, while the total market value decreased by approximately 9.84 percent in the last 24 hours, the Fear and Greed Index decreased to 5 points at the “Extreme Fear” level.
On the other hand, the $1.03 billion long position liquidation in Bitcoin quickly put pressure on the overall market. It is evaluated that these developments created a downward momentum in the UNI price.
UNI token is trading at approximately $3.25 as of the time the news was published. Although it has been suggested that the interest of traditional investors in UNI may increase if the ETF in question is approved, it remains unclear how the application process will result.
