Bitwise Takes Early Steps Toward Uniswap ETF Despite Broader Market Risk Aversion

Asset manager Bitwise has registered a statutory trust for a Uniswap (UNI) exchange-traded fund (ETF) in Delaware. This move comes as the broader crypto ETF market faces significant headwinds. Bitcoin (BTC) and Ethereum (ETH) products are seeing notable outflows, while altcoin ETFs record mixed results. Bitwise Registers Uniswap ETF in Delaware According to Delaware state records, Bitwise registered the “Bitwise Uniswap ETF” on January 27, 2026, under file number 10486859. 🚨 UPDATE: Bitwise registers for a $UNI ETF in Delaware, indicating filing may come soon. pic.twitter.com/4ObJo38PBv— CW (@CW8900) January 28, 2026 This filing is an early step before submitting a formal application to the Securities and Exchange Commission. Although the registration does not guarantee approval or launch, it demonstrates Bitwise’s intent to broaden its ETF lineup. The next likely step will be an S-1 registration statement with the SEC, which will detail the fund’s structure, investment approach, compliance measures, and more. The Uniswap ETF registration comes amid a risk-off investor sentiment. This is evidenced by the performance of crypto ETFs. According to SoSoValue data, Bitcoin ETFs recorded $1.33 billion in net outflows last week, while Ethereum ETFs saw $611.17 million exit the products. Although the flows turned positive on Monday, the momentum quickly reversed. On January 27, Bitcoin ETFs posted net outflows of $147.37 million. Ethereum ETFs recorded $63.53 million in outflows. However, performance across altcoin ETFs was mixed. XRP ETFs attracted $9.16 million in net inflows. Moreover, Solana ETFs saw $1.87 million in fresh inflows, indicating selective investor interest. In contrast, the newly launched AVAX ETF continued to report zero net flows, highlighting limited demand at launch. Overall, the uneven flow patterns suggest investors are taking a highly selective approach, allocating capital to only a few crypto ETF products. Even where inflows are present, they re...