Bitwise Files for 11 Altcoin ETFs: What You Ought to Know Now

A Huge Push for Altcoins by the Bitwise Investment Firm

All the Basics You Should Know First

Actually right now Bitwise submitted a huge list of requests to the SEC to have their hand on the 11 altcoin trade funds. It’s an extraordinary step into the altcoin group, because up until now the SEC wasn’t very active with their approvals in that space.

Each Fund’s Details Clearly Explained

These ETFs would be managed and you know funded under the Bitwise trust that already exists and are going to be traded on the stock exchange, NYSE Arca. The investment will consist of Aave, Uniswap, and Sui, with each fund being able to allocate 60% of its resource directly in the underlying token, and 40% invested in exchange-traded products or derivatives.

The Professionals Weigh In

Eric Balchunas has taken note of these applications and also stated they are coming at a rapid pace. The final date for these fund to take action and being publicly traded is March 16th, but still many details are being decided, like the investment fees and the ticker symbols.

Significant Market Impact Imminent

This action by Bitwise points towards the fact that more investors are shifting their focus towards altcoin funds, as witnessed in latest data. The inflows into Solana and XRP have significantly increased, which shows the demand is not just restricted to Bitcoin and Ethereum. This is a clear sign of investors demanding a more wide and diverse variety of altcoin funds in the market, and how Bitwise has put up applications that have definitely brought this to the light.