Bitwise Files S-1 With SEC to Launch Uniswap-Focused ETF, UNI Token Slumps 16%

Crypto asset supervisor Bitwise has change into the primary to file with the US regulator to launch an exchange-traded fund (ETF) devoted to Uniswap.

The fund targets exposure to Uniswap (UNI), the governance token of the main decentralized change protocol. The ETF submitting marks one of many pivotal moments for DeFi.

“The Trust’s funding goal is to search to present publicity to the worth of Uniswap held by the Trust, much less the bills of the Trust’s operations and different liabilities,” the Thursday submitting with the US Securities and Exchange Commission (SEC) learn.

Uniswap is a decentralized change (DEX) built on Ethereum that provides token swaps with out an middleman. The regulatory authorities are presently reviewing the Bitwise software.

Bitwise Forms Delaware Statutory Trust for Uniswap ETF

The asset supervisor initially registered a Delaware statutory belief for a possible Uniswap fund on January 27, as a routine authorized step that normally precedes an SEC submitting.

The transfer positioned Bitwise to pursue a decentralized finance protocol-tied ETF to later advance to a federal submitting.

The registration follows after the SEC backed off its investigation into Uniswap Labs, the Brooklyn-based firm, in February 2025. The SEC charged Uniswap for working as an unregistered securities change and issuing an unregistered safety.

If authorised by the regulator, the Coinbase Custody Trust Company would act because the custodian for the Bitwise Uniswap ETF.

Wider Crypto Market Slump Pulls UNI Token Down by Over 16%

UNI, the native token of Uniswap, has plummeted 16.59% to $3.15 prior to now 24 hours, underperforming a broader market sell-off.

The drop is a part of a extreme crypto-wide correction. The whole market cap fell 9.84% in 24 hours, with the Fear & Greed Index hitting “Extreme Fear” at 5.

Besides, a key driver was a large $1.03 billion in Bitcoin lengthy liquidations, which compelled leveraged positions to unwind throughout the board. UNI is buying and selling at $3.15 at press time, per CoinMarketCap data.

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