Coinbase Ecosystem Boosted as Bitwise Files for First Uniswap ETF
In a landmark development for the cryptocurrency industry, asset manager Bitwise has officially filed with the U.S. Securities and Exchange Commission (SEC) to launch the first-ever exchange-traded fund (ETF) dedicated to Uniswap's native token, UNI. This filing, submitted on February 6, 2026, represents a pivotal step in bridging the worlds of decentralized finance (DeFi) and traditional, regulated investment vehicles. The proposed 'Bitwise Uniswap ETF' is designed to provide mainstream and institutional investors with a familiar, regulated pathway to gain exposure to the performance of UNI, the governance token that powers the leading decentralized exchange protocol, Uniswap. The significance of this filing cannot be overstated for the broader crypto market, particularly for centralized exchanges like Coinbase. A successful launch of a Uniswap ETF would validate a major DeFi primitive within the traditional financial regulatory framework, potentially unlocking billions in institutional capital that has remained on the sidelines due to regulatory and custodial concerns. For Coinbase, which serves as a critical on-ramp for institutional capital and offers trading for UNI, this development acts as a powerful tailwind. It reinforces the narrative of cryptocurrency's maturation and integration into the global financial system, a narrative central to Coinbase's long-term growth strategy. Furthermore, it sets a precedent that could lead to ETFs for other prominent DeFi tokens, expanding the universe of investable assets and driving more trading volume and custody business to compliant platforms. This move by Bitwise follows the successful introduction and trading of Bitcoin and ethereum spot ETFs, which demonstrated strong market demand for regulated crypto exposure. By targeting Uniswap—a cornerstone of the DeFi ecosystem—Bitwise is pushing the boundary further. The filing indicates growing confidence among asset managers that regulators are becoming more comfortable with the structure and custody solutions for more complex crypto assets beyond the first-generation giants. For investors, this ETF would abstract away the technical complexities of directly holding and managing DeFi tokens, offering a simpler, safer, and more familiar investment product. This development is a watershed moment, signaling that the innovative financial infrastructure being built in the crypto space is beginning to receive formal recognition and integration from the legacy financial world, with centralized entities like Coinbase poised to benefit from the increased legitimacy, liquidity, and user adoption that follows.
Bitwise Files with SEC to Launch First Uniswap ETF
Bitwise has taken a significant step toward launching the first exchange-traded fund (ETF) dedicated to Uniswap by filing with the U.S. Securities and Exchange Commission. The proposed Bitwise Uniswap ETF would provide traditional investors with exposure to UNI, the native token of the Uniswap protocol, through a regulated financial product.
A successful launch would mark a watershed moment for decentralized finance, bridging the gap between DeFi and mainstream markets. Uniswap, one of the largest decentralized exchanges, operates on the Ethereum blockchain, enabling peer-to-peer trading without intermediaries through automated smart contracts.
Coinbase Custody Trust Company is slated to serve as custodian for the ETF, safeguarding the underlying UNI tokens. Notably, the fund will not participate in staking activities. This development comes amid growing institutional interest in crypto investment vehicles, reflecting broader acceptance of digital assets.
Coinbase Premium Flips Negative as US Bitcoin Selling Pressure Mounts
Bitcoin's Coinbase premium turned sharply negative this week, hitting a one-month low of -0.20% as institutional outflows accelerated. The metric—a key gauge of US investor sentiment—reflects mounting selling pressure from large-scale holders during BTC's slide toward $63,000.
Asian trading hours initially buoyed prices, but the momentum faltered during US sessions. Notably, the premium deterioration coincides with Coinbase Prime Custody clients—typically institutional entities—liquidating positions. Historical patterns suggest BTC struggles to rebound without positive Coinbase premium momentum.
The selloff follows Bitcoin's rejection at $90,000, with the current downturn marking the most pronounced negative premium since February. Market observers note that sustained negative premiums exceeding $150 often precede deeper corrections when institutional flows dominate price action.
Marathon Digital Executes $86.9M Bitcoin Transfers to Institutional Counterparties
Marathon Digital Holdings, one of the largest publicly traded bitcoin miners, moved 1,318 BTC ($86.9 million) to institutional custody providers Two Prime, BitGo, and Galaxy Digital in a series of transactions on February 6. Blockchain analytics firm Lookonchain first flagged the activity, which was later corroborated by Arkham Intelligence's on-chain data.
The transfers included 653.77 BTC to Two Prime, along with separate allocations of 99.99 BTC and 280 BTC to BitGo. Additional movements included 50 BTC to an unidentified wallet and 305 BTC via Anchorage Digital Custody. Smaller inflows of 3.16-3.27 BTC from Coinbase to Marathon-controlled wallets were also recorded during this period.
This activity continues Marathon's pattern of large-scale Bitcoin management. The firm's on-chain balance had swelled to $2.4 billion in early 2025 before declining sharply to $793 million by February 2026. Current wallet holdings show approximately 12,245 BTC ($792.68 million) under management, representing a 9% drawdown from peak levels.
