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Bitwise Launches ETHW: Direct Ethereum ETF With 0.20% Fee And Developer Support

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Bitwise Asset Management has finally brought into the market its Ethereum-based ETF as ETHW. As highlighted in a recent X post, this revolutionary fund aims at providing investors with exposure to Ethereum while at the same time contributing to the growth of the blockchain industry.

ETHW is distinguished by the direct investment approach to the Ethereum (ETH) cryptocurrency, so investors can easily and clearly invest in the Ethereum cryptocurrency. Bitwise has pitched a rather low management fee of 0.20%, with an effective launch promotion of 0% fees in the first six months or for the first $500 mln in investments.

Bitwise ETHW Fund

Another important feature of the ETHW fund is its focus on the development of the entire Ethereum network. Bitwise has made a commitment to give away 10% of its revenues to the open-source Ethereum developers. This also shows that platform is keen on the growth and advancement of blockchain technologies and the community as a whole.

Another principle that defines the ETHW fund is the transparency. He added that Bitwise has disclosed the addresses of the fund on Ethereum, which means that anyone can check the holdings and the operations that have been made. This level of transparency is aimed at fostering confidence among the investors because they are assured of their investment being managed in the right manner.

The ETHW fund has been designed by the professional team of cryptographers who have a deep understanding of the digital coins and thus, offer the investors a high-quality product that corresponds to all the norms of the crypto sphere. Bitwise’s team has appropriate experience in the crypto industry, and the fund structure has been adjusted based on their recommendations to meet the current standards.

Bitwise has thus expanded the options of the crypto ETFs with the introduction of the ETHW fund. Based on the direct investment in Ethereum, low fees, dedication to the developer community, and complete openness, Bitwise has established a new benchmark for crypto investment products. ETHW fund is a new and reliable way for investors interested in adding Ethereum to their portfolio to do so.

Due to the further development of the cryptocurrency market and its expansion towards the adoption by the traditional financial institutions, products like ETHW help to facilitate this transition and open new opportunities for investments into the cryptocurrencies.

A Lesser Known Ethereum Fork PoW Chain Is Making Its Presence; Here’s How

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Ethereum’s Merge created two forked proof-of-work chains, one which is popularly led by Chandler Guo to create ETHPoW and ETHW and the other relatively obscure called EthereumFair, [ETF].

Looks like the lesser-known sister project has finally woken up from its deep slumber as its team announced creating Telegram groups for several languages.

EthereumFair even claimed on Twitter that it was the first PoW currency to break away from the mainnet. This account, which was created in January 2020, has about 14,000 followers.

Despite having a two-year foothold, it is fewer than the just over 15,000 Twitter followers EthPoW has gained since its establishment in July.

EthereumFair is managed by a group of Chinese miners, and its major documentation is available in Chinese. But given that it started creating social media groups in several languages and announced rewards and support, things might change from now onwards.

Its block explorer revealed that ETF has 6.7 million total transactions and 1.8 million wallet addresses.

According to Coingecko.com, the price range for ETF has been between $1.48 and $3.50 per unit, with a $3.43 million global trade volume. The price of ETF reached an all-time high two days ago at $20 per unit and then fell to its lowest level that day at $0.99 per coin.

The coin is currently exchanging hands at $6.43, down 30% over the past 24 hours.

Ethereum Forked Projects Gained Major Adoption

Poloniex, a leading exchange that accepted EthereumFair, announced its initial endorsement “based on the market condition, users’ consensus, and the community.” Later, Poloniex changed the name of ETHF to ETF and added support for ETHW.

Additionally, the coin is now traded on the cryptocurrency exchanges Huobi and BitCoke. ETHW, on other hand is also traded on OKX, XT.COM, Deepcoin, Bybit, and CoinW.

Just recently, the hash rate of the well-known forked coin reached an all-time high of 80.56 terahashes per second [TH/s], before plummeting later and ubsequently losing 53.35% of its hashpower.

That said, a little portion of the hashrate left over from the Merge has been collected by the other forked project EthereumFair. At press time, there are seven nodes specifically dedicated to the network, and its hashrate stood at 7.9 TH/s.