Bitwise Files for SEC Approval to Launch Uniswap ETF

Highlights:

• Bitwise aims to launch the first regulated Uniswap ETF in the U.S. market.
• Coinbase Custody will hold UNI tokens for the proposed Bitwise Uniswap ETF.
• The ETF offers DeFi exposure without the need for managing wallets or private keys.

Bitwise Asset Management has taken a major step in the crypto market by submitting the application for the Uniswap ETF to the U.S. Securities and Exchange Commission (SEC). This submission marks a key moment for decentralized finance (DeFi) as it introduces one of the largest decentralized exchanges, Uniswap, to the sphere of regulated financial products. The Uniswap ETF is further designed to provide institutional investors with a systematic and risk-free method of exposure to the UNI token.

Bitwise’s Bold Move into DeFi

Bitwise submitted a Form S-1 registration statement with the SEC on February 5, 2026, suggesting the launch of a Uniswap ETF. This fund is aimed at directly holding UNI tokens. This would consequently give investors an opportunity to track the price of the token through traditional financial systems. Coinbase Custody, which holds a record of safeguarding digital assets, will be the custodian of the ETF. The ETF would also remove the necessity of the individual to maintain keys or wallets. This has been seen in the case of direct trading on decentralized platforms. As a result, this would make it a more accessible choice among institutional players.

Although this is not the first crypto ETF filing, it is notable since it is dedicated to a native token of DeFi. The Uniswap ETF, should it be approved, would become the first such regulated exchange-traded product to track the governance token of a DeFi protocol in the U.S. As a result, the submission is part of the growing popularity of crypto ETFs, reflecting the evolving digital asset regulations.

The Push Toward Institutional Adoption

The increasing popularity of crypto-related ETFs is clear. The ETF can be a game-changer with the presence of traditional financial institutions and pension funds that want to have regulated exposure to cryptocurrencies. This would allow these institutions to invest in UNI in a traditional brokerage account. Moreover, this could add liquidity to the DeFi space. This move further aligns with the long history of Bitwise closing the gap between digital assets and mainstream finance.

In the filing, Bitwise stressed that the ETF is designed to track the value of UNI. This model leads to lower operational costs and liabilities. However, unlike other crypto products, the fund does not intend to provide staking options at the moment. Despite this alternative, this may change in the future. This dynamic may contribute to the Uniswap ETF being a viable investment tool for individuals interested in engaging in DeFi without considering the risks associated with it directly.

Market Conditions and Volatility

The crypto market has remained highly volatile. However, the upcoming Uniswap ETF offers investors an opportunity to participate in DeFi without the extreme price swings associated with decentralized exchanges. UNI has declined 15% during the 24 hours, trading at 3.18, reflecting the negative trend. Moreover, its market cap and trading volume stand at $2 billion and $675 million, respectively.

Bitcoin, Ethereum, and Solana have experienced severe drops, indicating the volatility in the sector. Meanwhile, Japan is also set to approve its first crypto ETFs by 2028. Major financial organizations such as Nomura Holdings and SBI Holdings are at the forefront. This global trend demonstrates the growing acceptance of crypto assets as valid investment instruments.

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