SEC Greenlights Bitwise Bitcoin and Ethereum ETF
Finance/Markets

SEC Greenlights Bitwise Bitcoin and Ethereum ETF

The U.S. SEC has approved the Bitwise ETF that offers exposure to both Bitcoin and Ethereum, allowing investors to tap into the cryptocurrency market through one product.

Key Insights:

  • The U.S. Securities and Exchange Commission (SEC) has approved the Bitwise Bitcoin and Ethereum ETF, allowing investors to gain exposure to both spot Bitcoin (BTC) and Ethereum (ETH).
  • This ETF is weighted by market capitalization, offering a consolidated investment in two major cryptocurrencies.
  • The approval comes shortly after similar products from Hashdex and Franklin Templeton received the green light from the SEC.
  • Bitwise’s ETF was launched in partnership with the New York Stock Exchange, which filed a 19b-4 application last November.

Background:

The SEC’s latest approval represents a significant step for cryptocurrency investors, providing a regulated option to invest in Bitcoin and Ethereum without the need for direct asset management. Asset managers are currently rushing to establish crypto-related ETF products in light of the favorable regulatory climate under the new administration. This includes plans for ETFs tracking popular cryptocurrencies such as Dogecoin (DOGE) and Solana (SOL).

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