TLDR
- Bitwise files first Uniswap ETF to bring DeFi into regulated markets
- New Bitwise ETF could open Wall Street access to UNI token exposure
- Uniswap ETF filing signals major shift toward regulated DeFi investing
- Bitwise pushes DeFi into ETFs as US crypto rules begin to evolve
- First proposed Uniswap ETF aims to bridge crypto and traditional finance
Bitwise filed a new application that aims to introduce the first Uniswap ETF in the United States. The move marks a significant step for regulated access to decentralised finance, and it arrives during a subdued market cycle. The filing positions Bitwise to expand its presence across emerging crypto-linked products.
Uniswap ETF Filing Advances Toward Federal Review
Bitwise submitted the Uniswap ETF proposal after forming a Delaware statutory trust for the product in January. The firm structured the trust to hold UNI as its primary asset, and it designed the vehicle to operate under established ETF rules. The application uses a Form S-1 statement that outlines how the trust would function on a national exchange.
The Uniswap ETF seeks to track the value of UNI while using regulated custody for token storage. Coinbase Custody would manage the digital asset holdings, and the design removes the need for users to handle private keys. The filing explains that the ETF structure allows access through standard brokerage platforms.
The application places a decentralised governance token within a registered investment wrapper and signals widening industry ambitions. The Uniswap ETF request arrives after the SEC ended its investigation into Uniswap Labs in 2025, and that decision reshaped the regulatory landscape. This timing supports Bitwise’s effort to align DeFi exposure with existing compliance frameworks.
Structure and Objectives Behind the Proposed Fund
Bitwise structured the Uniswap ETF to provide direct exposure to UNI without requiring on-chain activity. The trust would issue shares that represent a proportional interest in the UNI holdings, and it would follow standard reporting rules. Likewise, the sponsor would oversee daily operations while custody partners manage secure settlement.
The fund excludes staking at launch, but the filing notes potential updates pending future reviews. The product aims to mirror the underlying token’s price, and it uses a familiar ETF mechanism to support adoption. The structure appeals to participants who prefer regulated access to decentralised assets.
The Uniswap ETF proposal builds on the model used by earlier spot crypto funds, and it seeks to extend that design to DeFi. This expansion forms part of a broader strategic shift across traditional finance, and it highlights rising interest in widening crypto product categories. The submission reflects Bitwise’s confidence in the long-term relevance of protocol-based assets.
Context Within the Broader ETF Push
Bitwise advanced this Uniswap ETF during a period of wider altcoin product activity in the United States. Several firms are pursuing ETFs tied to assets like AAVE and Chainlink, and these filings test evolving regulatory boundaries. The market displays muted reactions despite the wave of new submissions.
UNI remains under pressure as broader market weakness limits positive sentiment, and the recent decline reinforces short-term caution. The emergence of a Uniswap ETF signals a growing institutional framework for DeFi tokens. The filing underscores an industry shift toward regulated exposure to on-chain ecosystems.
The Uniswap ETF marks a notable development as political messaging and regulatory leadership increasingly encourage crypto innovation. Ongoing policy efforts aim to modernise oversight systems and these actions create space for new financial products. Bitwise positions itself at the front of this transition with a pioneering regulated approach to a decentralised protocol.
