- The SEC has approved Bitwise’s combined Bitcoin–Ethereum ETF for NYSE Arca listing, with an 83% BTC and 17% ETH allocation structure.
- Coinbase’s custody business will oversee the fund’s holdings, with daily NAV calculations at 4:00 PM ET.
- The approval signals a more crypto-friendly regulatory environment under new SEC leadership.
- Bitwise continues expanding its crypto ETF offerings, including recent filings for Dogecoin, XRP, and Solana funds.
- The fund still requires Form S-1 registration approval before trading can commence.
The U.S. Securities and Exchange Commission has expedited the approval process for Bitwise Asset Management’s pioneering dual cryptocurrency ETF, marking a significant milestone in the integration of digital assets into traditional financial markets. The fund, designed to track both Bitcoin and Ethereum, will trade on NYSE Arca once final regulatory requirements are met.
The innovative ETF structure allocates assets based on market capitalization, currently weighted at 83% Bitcoin and 17% Ethereum. Coinbase Custody, the institutional arm of the leading cryptocurrency exchange, will serve as the custodian for the fund’s digital assets, providing institutional-grade security measures.
“I really want to interpret this as a sign the new SEC will be faster, but no way to know really,” noted Bloomberg’s senior ETF analyst Eric Balchunas in a social media post.
This approval follows the SEC’s recent pattern of green-lighting crypto investment products, including the Hashdex and Franklin Templeton ETFs in December. The regulatory body’s official documentation demonstrates a growing acceptance of digital asset investment vehicles.
Bitwise has aggressively expanded its cryptocurrency product lineup, recently filing for additional single-asset ETFs tracking Dogecoin, XRP, and Solana. The firm expressed optimism about the market cycle in a recent statement, suggesting regulatory tailwinds could extend the current bull run through 2026.
According to CoinGecko data, Bitcoin traded at $104,331 (down 0.2%) while Ethereum reached $3,234.15 (up 1.2%) following the announcement. The fund’s final launch remains contingent on SEC approval of its Form S-1 registration, which will evaluate compliance with disclosure and investor protection requirements.
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