The U.S. Securities and Exchange Commission (SEC) has approved the launch of the Bitwise Bitcoin and Ethereum exchange-traded fund (ETF), a significant move for cryptocurrency investments. This ETF will provide investors with exposure to both spot bitcoin (BTC) and ethereum (ETH), with the allocation based on market capitalization.
The approval of this product comes shortly after the SEC permitted similar ETFs from other financial firms, including Hashdex and Franklin Templeton. In its filing, Bitswise partnered with the New York Stock Exchange (NYSE), which submitted a 19b-4 form to the SEC back in November.
The surge in ETF applications reflects a growing interest in cryptocurrency investments. Asset management companies are eager to capitalize on a new regulatory environment promised by the Biden administration, which is reportedly taking a more relaxed approach to digital asset regulations. Recent filings have even included ETFs focused on popular “memecoins” like Dogecoin (DOGE) and various cryptocurrencies including Solana (SOL).
For more detailed information regarding the SEC’s decision and the implications for cryptocurrency investments, visit the SEC documentation here.
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