Bitwise Submits SEC Application for First Uniswap UNI ETF, With Coinbase Named as Custodian

Bitwise Files For First Uniswap Etf In The United States

Wall street is one step closer to embracing the engine room of decentralised trading.

Bitwise asset management has formally submitted a registration statement to the securities and exchange commission (SEC) to launch the first-ever exchange-traded fund (ETF) dedicated to uniswap.

The move aims to bridge the gap between traditional brokerage accounts and the world of high-speed, intermediary-free digital swaps.

If the regulator gives the green light, the Bitwise Uniswap ETF will allow investors to gain exposure to UNI, the governance token of the ethereum-based uniswap protocol, without the hassle of managing private keys or navigating digital wallets.

How Does The Proposed Bitwise Uniswap Etf Work?

The structure of the fund is designed for simplicity.

According to the filing, the investment objective is "to seek to provide exposure to the value of Uniswap held by the Trust, less the expenses of the Trust’s operations and other liabilities."

By holding the physical UNI tokens, the ETF would track the asset’s market price.

To ensure institutional-grade security, Bitwise has tapped Coinbase Custody Trust Company to serve as the custodian.

This means coinbase will be responsible for the cold storage and protection of the tokens on behalf of the fund's shareholders.

While uniswap is famous for its automated trading and liquidity pools, Bitwise noted that staking will not be part of the fund's initial launch phase.

Is The Us Becoming The Global Crypto Capital?

This filing is not an isolated event.

It is a symptom of a rapidly shifting political and regulatory landscape in washington.

President Donald Trump has frequently voiced his ambition to transform the United States into the "crypto capital" of the world.

This pro-innovation stance has seemingly trickled down to the regulatory bodies.

In a departure from years of jurisdictional friction, the SEC and the commodity futures trading commission (CFTC) have launched a collaborative effort known as "Project Crypto."

New SEC chair Paul Atkins and CFTC chair Michael Selig are spearheading this movement to modernise financial rules for the blockchain age.

Can Institutional Interest Stabilise Market Volatility?

The timing of the application comes during a testing period for digital assets.

On 5 February 2026, the crypto market saw a significant retreat, with the UNI token sliding roughly 15% in a single day.

This volatility was mirrored by bitcoin, which also dipped nearly 15% as part of a broader market correction.

Despite these sharp price swings, analysts believe that the introduction of ETFs could lead to a more mature market.

By opening the door for pension funds and large-scale investment firms, these products are expected to deepen liquidity and potentially dampen price effects common in the retail-heavy crypto space.

Why Does Uniswap Matter For Traditional Investors?

Uniswap represents the vanguard of decentralised finance (DeFi), currently ranking among the top 40 cryptocurrencies by market capitalisation.

Unlike traditional exchanges like the New York stock exchange, uniswap operates via smart contracts that automate trades directly between users.

By removing the intermediaries like banks and clearinghouses, the protocol has handled trillions in volume since its inception.

For Bitwise, launching an ETF for such a protocol is a bet on the long-term utility of decentralised infrastructure, moving beyond just digital assets into the functional software of the future global economy.