Bitwise Registers Uniswap ETF Trust in Delaware as UNI Jumps 3.8%

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This article was first published on The Bit Journal. While market attention remained fixed on Bitcoin’s volatile price action, Bitwise Asset Management was making a quieter strategic move in the background. The company has recently incorporated a Bitwise Uniswap ETF trust in Delaware, which indicates it was early planning a Uniswap ETF that is tied to the decentralized exchange protocol.

The registration is not a formal ETF filing with the U.S. Securities and Exchange Commission, nor does it mean regulatory review is being conducted. Rather, analysts interpret the action as a legal framework in place, a typical practice of asset managers that allows them to be flexible should a regulation change with respect to a Uniswap ETF.

🚨 JUST IN: BITWISE REGISTERS “UNISWAP ETF” TRUST IN DELAWARE

Bitwise has registered a Delaware statutory trust under the name “Bitwise Uniswap ETF,” according to a state filing.

The move sets up a legal entity tied to @Uniswap $UNI, ahead of any federal ETF filing.

Such… pic.twitter.com/ZEVMYLUKC1

— BSCN (@BSCNews) January 28, 2026

Regulatory Uncertainty Surrounds Uniswap ETF Plans

To conventional investors, a future Uniswap ETF may make it easier to become exposed to the protocol by offering access to common investment vehicles. Nevertheless, industry observers caution that no SEC application or review process has taken the first step to an exchange-traded fund based on Uniswap.

The market responded in spite of the premature state of the development. At the moment the registration of the Uniswap ETF trust became open, the UNI was trading at $4.82 and has increased by 3.83% in 24 hours. The movement was particularly against a wider market in ETFs that had mixed performances.

UNI Recovers After Weeks of Underperformance

Ether products registered high pressure with outflows of $63.53 million, and Ripple registered the highest inflows of $9.16 million, followed by Solana with outflows of 1.87 million. Chainlink also gained smaller inflows of about 439,000. The divergence indicates that investors are reviewing exposure to large-cap assets and responding selectively to other developments such as the potential Uniswap ETF.

UNI is on short-term growth after weeks of comparative weakness. The token performed poorly in the last three weeks when other altcoins had been rising alongside Bitcoin earlier in January. There was a period of improvement with momentum during the discussion of the Unification governance proposal, but enthusiasm waned soon after the vote was cast.

Bitwise Positioning Highlights Long-Term ETF Interest

Even the large-scale protocol changes, such as the burn of 100 million UNI tokens, the elimination of frontend fees, and the flipping of fee switches, could not provide a lasting rally. This underperformance, that is particularly noticeable in relation to Bitcoin and other altcoins, is something that the bullish investors continue to be concerned about.

Overall, though the governance process and the underlying of Uniswap are getting stronger, the market has not fully valued that strength. Interest in the possibility of having an Uniswap ETF is reflected in the early positioning taken by Bitwise, although in the meantime, price moves indicate that investors are awaiting more regulatory indications before investing further.

Conclusion

In general, the early presence of Bitwise around a possible Uniswap ETF is a positive sign that large institutions are increasingly interested, although uncertainty about regulations still restricts conviction. Although the fundamentals of Uniswap are reinforcing, the mixed ETF flows and the uneven performance of UNI indicate that investors are still cautious and are waiting to see further evidence before making a long-term reprice.

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Summary

• Bitwise registers Uniswap ETF trust in Delaware, signaling early preparation without SEC review yet.
• UNI rises 3.83% to $4.82 despite mixed ETF market flows.
• The flow of ETFs is different: Ethereum experiences outflows, Ripple and Solana experience inflows.
• UNI continues to underperform even though it has better fundamentals and governance making investors hesitant.

Glossary of Key Terms

Bitwise Asset Management: U.S. company that provides crypto investment products.
Uniswap (UNI): Decentralized exchange protocol UNI is its token.
Uniswap ETF: ETF of Uniswap, to get traditional investor access.
Delaware Trust: Legal entity used to structure ETFs before approval.
SEC: the United States securities and ETF regulator.
Altcoins: Cryptocurrencies other than Bitcoin, e.g., ETH, XRP.

Frequently Asked Questions about Bitwise Uniswap ETF & UNI

1: What is the Bitwise Uniswap ETF?

A Delaware trust is preparing for a potential ETF to give investors exposure to UNI.

2: Has the SEC approved it?

No, there’s no active SEC review or filing yet.

3: How did UNI react?

UNI rose 3.83% to $4.82 after the filing news.

4: Why is UNI underperforming?

Despite token burns and fee changes, UNI lags Bitcoin and other altcoins.

References

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