PANews reported on January 28 that, according to Decrypt, cryptocurrency asset management firm Bitwise has registered a statutory trust entity for the "Bitwise Uniswap ETF" in Delaware, in preparation for a potential future ETF application related to the decentralized exchange protocol Uniswap. Such state registrations typically precede formal applications to the U.S. Securities and Exchange Commission by several months, and most do not progress to later stages.

Analysts point out that this move is a strategic step by Bitwise to retain its options and does not necessarily mean that it has entered SEC review or has a clear timeline for listing.