Bitwise Uniswap ETF Filed Non-offering registration

What the company does

The Bitwise Uniswap ETF is an exchange-traded product that issues common shares of beneficial interest. The Trust's investment objective is to seek to provide exposure to the value of Uniswap held by the Trust, less the expenses of the Trust's operations and other liabilities. To achieve its objective, the Trust holds Uniswap and establishes its net asset value by reference to the CME CF Uniswap — Dollar Reference Rate — New York Variant. The Trust is sponsored and managed by Bitwise Investment Advisers, LLC, with Coinbase Custody Trust Company, LLC serving as custodian for the Trust's Uniswap holdings.

Use of proceeds

Proceeds received by the Trust in connection with the issuance of Baskets consist of Uniswap and cash. Deposits of Uniswap received by the Trust pursuant to an In-Kind Creation are held by the Uniswap Custodian on behalf of the Trust until delivered out in connection with an In-Kind Redemption of Baskets or transferred or sold by the Sponsor to pay fees due to the Sponsor and Trust expenses and liabilities not assumed by the Sponsor. Deposits of cash proceeds received in connection with Cash Creation Orders will be used to acquire Uniswap.

Underwriters

Underwriters are not applicable to this non-offering registration.

Extracted from S-1 0001213900-26-012830, filed Feb 5, 2026 and verified against that filing text.

Key risk factors

• Uniswap market volatility

  “Because of such volatility, Shareholders could lose all or substantially all of their investment in the Trust.”

• Limited history of Uniswap

  “Uniswap is a relatively new technological innovation with a limited history.”

• Evolving regulation

  “Regulation of the use of Uniswap and the Ethereum Blockchain continues to evolve both in the United States and in foreign jurisdictions, which may restrict the use of Uniswap or otherwise impact the demand for Uniswap.”

• Staking and slashing risks

  “As a result, there is no guarantee that the Trust would be able to recover any staked Uniswap, or the corresponding value thereof, in the event that it becomes subject to slashing or other staking-related penalties.”

• Spot market and security breach risk

  “Spot markets on which Uniswap trades are relatively new and largely unregulated or may not be complying with existing regulations and, therefore, may be more exposed to fraud and security breaches than established, regulated exchanges for other financial assets or instruments, which could have a negative impact on the performance”

• Limited shareholder rights

  “The Shares have limited voting and distribution rights under the Trust Agreement.”

• No FDIC or SIPC protection

  “The Trust is not a banking institution and is not a member of the FDIC or Securities Investor Protection Corporation ("SIPC") and, therefore, investments in the Trust are not subject to the protections enjoyed by depositors with FDIC or SIPC member institutions.”