Key Points:
- The SEC has approved NYSE Arca’s rule change to list and trade the Bitwise Bitcoin and Ethereum ETF.
- The ETF will be weighted by market capitalization, with holdings in Bitcoin, Ethereum, and cash reserves.
The U.S. Securities and Exchange Commission (SEC) has approved NYSE Arca’s proposed rule change to list and trade shares of the Bitwise Bitcoin and Ethereum ETF.
Read more: Bitwise Dogecoin ETF S-1 Application Filed With SEC
SEC Approves Bitwise Bitcoin and Ethereum ETF for Trading
The Bitwise Bitcoin and Ethereum ETF, launched in partnership with the New York Stock Exchange, will track Bitcoin and Ethereum based on their market capitalization weight, along with holding cash reserves.
The SEC expedited the approval process due to the ETF’s structural similarities with previously approved spot crypto ETFs, confirming that it meets all regulatory standards.
Shifting Regulatory Landscape Boosts Crypto Industry
The decision comes amid a changing regulatory environment under President Donald Trump’s administration, which has taken steps toward a more crypto-friendly approach. Recently, the SEC rescinded an accounting rule that significantly impacted the way cryptocurrencies are recognized.
The approval follows the filing of a 19b-4 form by NYSE Arca in November 2024, which was preceded by Bitwise’s earlier submission of an S-1 filing.
The Bitwise Bitcoin and Ethereum ETF will be weighted by market capitalization, enabling direct access to Bitcoin and Ethereum without the complexities of cryptocurrency wallets or exchanges. A minimum of 10,000 shares will be required for the creation and redemption of this ETF, which may cater to institutional investors.
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