Bitwise Launches Ethereum ETF

Bitwise Asset Management displayed a banner for its new spot Ethereum exchange-traded fund on the New York Stock Exchange on Thursday. Teddy Fusaro, president of Bitwise, shared a video of the banner raising event which reads “ETHW, Bitwise Ethereum ETF.”

Balaji Srinivasan, former CTO of Coinbase, commented on X, suggesting that Ethereum’s influence has eclipsed traditional regulation: “The SEC surrenders to a more powerful regulator… The network defeats the state.”

Bitwise’s ETHW started trading on Tuesday, amassing $204 million in net inflows on its first day, followed by $29.6 million on Wednesday and $16.3 million on Thursday, according to SosoValue data. In comparison, nine U.S. spot ether ETFs faced $152.3 million in net outflows on Thursday, continuing a downward trend from previous days.