Following Bitcoin and Ethereum ETFs, many altcoin ETFs have also been launched in the US.
At this point, as the number of these altcoins continues to increase day by day, yet another one has been added.
According to Decrypt, Bitwise has applied for a Uniswap (UNI) ETF in the US state of Delaware.
According to the official application page, Bitwise has registered a Uniswap ETF in Delaware. This step is considered a preliminary step before a formal ETF application is submitted to regulators. However, this registration does not constitute approval.
This type of registration is typically an indication that a fund manager is preparing to apply for S-1 registration with the U.S. Securities and Exchange Commission.
The market interpreted Bitwise’s registration as a strategic move. Vincent Liu, CIO of Kronos Research, stated, “This transaction is a kind of temporary step to keep options open. It also doesn’t mean that SEC investigation is about to begin for the altcoin in question, or that an ETF launch is imminent.”
Liu concluded by noting that Uniswap’s decentralized structure also presents some challenges in terms of pricing and regulation.
Liu stated, “Uniswap has sufficient on-chain liquidity, but its transaction volume is fragmented and its governance structure is complex. Smart contract-based custody could increase operational risk and will be a significant area of scrutiny in the SEC’s assessment.”
It is also noteworthy that this move comes after the regulatory uncertainty surrounding Uniswap Labs was resolved, as the SEC closed its investigation into Uniswap Labs in February 2025.
*This is not investment advice.
