Asset manager Bitwise has registered a trust for a potential Uniswap [UNI] ETF in Delaware, signaling long-term interest while analysts note no formal SEC review is yet underway. The Uniswap token rose nearly 4% to $4.82 on the news, contrasting with mixed flows seen in other crypto ETFs.
Bitwise registered a trust in Delaware for a potential exchange-traded fund tied to the Uniswap protocol. This legal step allows the firm to move quickly if regulations change, though no active SEC review or formal filing timeline currently exists.
Analysts urge caution, noting such registrations are often early preparations. “In many cases, Delaware trust registrations serve as early legal setups,” the filing analysis stated, suggesting the move is more about positioning than immediate action.
The UNI token reacted positively, trading at $4.82, up 3.83% over 24 hours. This occurred amid mixed signals from the broader crypto ETF market, where other assets saw divergent flows.
Data shows outflows from Ethereum ETFs totaled $63.5 million. Conversely, Ripple [XRP] and Solana [SOL] funds led inflows with $9.16 million and $1.87 million, respectively.
Uniswap‘s price rise contrasts with its recent underperformance relative to other altcoins. Major protocol developments, including a 100 million UNI token burn and activated fee switches, have not triggered a sustained rally.
The split in ETF flows suggests investors may be selectively adjusting exposure. This activity highlights the cautious, preparatory nature of Bitwise‘s recent legal filing for a potential Uniswap product.
