Bitwise Asset Management has filed a Form S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) for a spot Uniswap exchange-traded fund (ETF), marking a significant step toward offering regulated exposure to the UNI token through traditional financial markets.
The filing, submitted on February 5, 2026, proposes the launch of the Bitwise Uniswap ETF, a trust designed to hold Uniswap (UNI) tokens directly as its primary asset. If approved, the ETF would allow investors to gain exposure to UNI price movements through standard brokerage accounts, without the need to manage digital wallets or private keys.
Under the proposed structure, Bitwise Investment Advisers would sponsor and manage the trust, while Coinbase Custody is named as the custodian responsible for holding the UNI tokens. Shares of the ETF are intended to trade on a U.S. exchange under a ticker symbol that has not yet been disclosed.
Despite the filing, UNI showed little immediate price support, highlighting continued caution across the altcoin market. At press time, UNI was trading at $3.22, down 14.5% over the past 24 hours, as broader risk appetite for non-Bitcoin digital assets remained subdued.
If approved, the product would become the first U.S.-listed ETF directly tied to a decentralized finance (DeFi) protocol’s native governance token. Uniswap is one of the largest decentralized exchanges built on Ethereum, and UNI serves as its governance token, allowing holders to vote on protocol changes.
The filing comes as demand for crypto-linked ETFs continues to evolve. Bitwise and other asset managers have recently submitted proposals for spot ETFs tied to a range of major altcoins, including Aave, Chainlink, and other digital assets, signaling sustained institutional interest despite near-term market weakness.
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