Asset manager Bitwise has taken an early regulatory step towards a Uniswap (CRYPTO:UNI) exchange-traded fund by registering a statutory trust in Delaware.
Delaware state records show the entity was filed as “Bitwise Uniswap ETF” on 27 January 2026 under file number 10486859.
The registration represents a preliminary move that typically precedes a formal filing with the US Securities and Exchange Commission.
Market participants note that the creation of a statutory trust does not guarantee regulatory approval or an eventual product launch.
The filing signals Bitwise’s intention to expand its crypto ETF offerings beyond bitcoin (CRYPTO:BTC) and ethereum despite challenging market conditions.
The broader crypto ETF market is currently facing risk-averse sentiment driven by sustained capital outflows.
Data from SoSoValue indicates bitcoin ETFs recorded net outflows of $1.33 billion over the previous week.
Ethereum (CRYPTO:ETH) ETFs also experienced pressure, with $611.17 million withdrawn during the same period.
Although flows briefly turned positive at the start of the week, the rebound failed to hold momentum.
On 27 January, bitcoin ETFs reported fresh net outflows totalling $147.37 million.
Ethereum ETFs posted additional net outflows of $63.53 million on the same day.
Performance across altcoin-linked ETFs has remained uneven, reflecting selective investor appetite.
XRP (CRYPTO:XRP) ETFs attracted $9.16 million in net inflows, suggesting targeted interest in specific assets.
Solana (CRYPTO:SOL) ETFs also recorded $1.87 million in new inflows, bucking the broader outflow trend.
In contrast, the recently launched AVAX ETF continued to show zero net flows, indicating muted demand.
Analysts say these mixed patterns suggest investors are allocating cautiously and avoiding broad exposure.
Even products that attracted inflows did so at relatively modest levels.
The uneven demand underscores a market environment focused on risk management rather than growth.
The Uniswap ETF trust registration had a limited immediate impact on UNI market prices.
BeInCrypto Markets data showed UNI trading at $4.83 at press time, up nearly 4% over 24 hours.
The price move largely mirrored broader market trends rather than ETF-specific enthusiasm.
Sentiment data from analytics firm Santiment highlighted elevated negative commentary around Uniswap and Chainlink (CRYPTO:LINK).
Uniswap & Chainlink have both seen a notably high amount of negative commentary compared to other altcoins. With retail dumping, this means both $UNI & $LINK are candidates for continued price rebounds in the short-term.
Santiment said.
Analysts note that heavy negative sentiment can sometimes act as a contrarian signal for short-term recovery.
Institutional interest implied by the ETF trust filing may offer additional support to UNI sentiment.
Market observers caution that wider macroeconomic and crypto market trends will remain the dominant drivers of long-term performance.
At the time of reporting, Bitcoin price was $89,824.68