Cryptocurrency asset management firm Bitwise is considering the possibility of offering an exchange-traded product (ETP) that focuses on Ethereum's layer 2 networks and applications. The chief investment officer of Bitwise mentioned that he sees potential in such a product and expressed confidence in the evolution of the Ethereum ecosystem. He emphasized the importance of including various layer 2s and applications in the product to ensure comprehensive coverage.

Additionally, Bitwise's CIO discussed the significance of the Dencun upgrade and how it could have a significant impact on the market. He believes that the market is currently underestimating the upgrade by a significant margin.

There is hope that Ether ETFs could launch in December, according to Bitwise. The CIO raised concerns about the readiness of the market for a spot Ethereum ETF by May and suggested that delaying the approval until December could benefit the market. Bitwise has filed the necessary forms with the SEC to list a spot Ether ETF along with several other applicants.

Despite some analysts lowering their odds for spot Ether ETF approval, there is ongoing optimism in the market. Bitwise is one of the issuers of spot Bitcoin ETFs, with its Bitwise Bitcoin ETF holding the fourth position in terms of flows among similar products.