Bitwise Recordsdata S-1 With SEC to Launch Uniswap-Targeted ETF, UNI Token Slumps 16%

Crypto asset supervisor Bitwise has turn into the primary to file with the US regulator to launch an exchange-traded fund (ETF) devoted to Uniswap.

The fund targets publicity to Uniswap (UNI), the governance token of the main decentralized trade protocol. The ETF submitting marks one of many pivotal moments for DeFi.

“The Belief’s funding goal is to hunt to supply publicity to the worth of Uniswap held by the Belief, much less the bills of the Belief’s operations and different liabilities,” the Thursday submitting with the US Securities and Trade Fee (SEC) learn.

Uniswap is a decentralized trade (DEX) constructed on Ethereum that provides token swaps with out an middleman. The regulatory authorities are presently reviewing the Bitwise utility.

Bitwise Kinds Delaware Statutory Belief for Uniswap ETF

The asset supervisor initially registered a Delaware statutory belief for a possible Uniswap fund on January 27, as a routine authorized step that normally precedes an SEC submitting.

The transfer positioned Bitwise to pursue a decentralized finance protocol-tied ETF to later advance to a federal submitting.

The registration follows after the SEC backed off its investigation into Uniswap Labs, the Brooklyn-based firm, in February 2025. The SEC charged Uniswap for working as an unregistered securities trade and issuing an unregistered safety.

If accredited by the regulator, the Coinbase Custody Belief Firm would act because the custodian for the Bitwise Uniswap ETF.

Wider Crypto Market Droop Pulls UNI Token Down by Over 16%

UNI, the native token of Uniswap, has plummeted 16.59% to $3.15 up to now 24 hours, underperforming a broader market sell-off.

The drop is a part of a extreme crypto-wide correction. The whole market cap fell 9.84% in 24 hours, with the Worry & Greed Index hitting “Excessive Worry” at 5.

Apart from, a key driver was a large $1.03 billion in Bitcoin lengthy liquidations, which pressured leveraged positions to unwind throughout the board. UNI is buying and selling at $3.15 at press time, per CoinMarketCap knowledge.

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