Bitwise Asset Management has taken a significant step by applying to launch a specialized exchange-traded fund (ETF) dedicated to Uniswap, submitting their request to the US regulatory authorities. The company aims to grant traditional investors indirect access to the price movements of Uniswap’s native token, UNI.
Bitwise’s New ETF Initiative
Operating in the crypto asset management sector, Bitwise provides investors with portfolio diversification across various digital asset types. The fund prepared for the Uniswap ETF aims to invest directly in the UNI token associated with the Uniswap protocol.
This application marks a critical move for Uniswap, a key player in the decentralized finance ecosystem. Uniswap is recognized as a decentralized trading protocol operating on the Ethereum blockchain.
What Happens After Approval?
Prior to submitting the ETF application, Bitwise established a fund trust in Delaware on January 27, highlighting the often necessary legal step in the banking and securities sector before making a federal application. Attention now turns to the decision of the US Securities and Exchange Commission (SEC).
Should the SEC approve Bitwise’s fund, it is conveyed that Coinbase Custody Trust Company will provide the custodial service for the ETF. Notably, Bitwise’s preparation of an ETF based on a decentralized finance protocol emerged shortly after the SEC investigation into Uniswap Labs was closed in February 2025.
The SEC had previously accused Uniswap Labs of selling unregistered securities and operating an unregistered exchange; however, the investigation was later dropped.
UNI Price Impacted by Market Downturn
Uniswap’s native token, UNI, experienced a 16.59% decrease in value over the past 24 hours, dropping to $3.15. This decline is part of a broader trend of aggressive selling in the cryptocurrency market.
Market data indicates a 9.84% drop in total market capitalization within the same timeframe, with the Fear and Greed Index falling to an “Extreme Fear” level of 5 points. Meanwhile, the liquidation of $1.03 billion in long positions in Bitcoin has exerted short-term pressure across the market.
As of the publication time, the UNI token is trading at approximately $3.25. While there is speculation that approval of the ETF could increase traditional investor interest in UNI, the outcome of the application process remains uncertain.
