SEC Approves Bitwise’s Spot Bitcoin and Ethereum ETF
The U.S. Securities and Exchange Commission (SEC) granted accelerated approval for Bitwise’s Bitcoin and Ethereum exchange-traded fund (ETF) on Thursday, marking another significant step in offering investors exposure to both digital assets in a single regulated financial product.
This approval comes just over a month after the SEC gave the green light to similar offerings from Hashdex and Franklin Templeton. While Hashdex’s Crypto Index ETF provides exposure to a variety of cryptocurrencies, Franklin Templeton announced plans to launch its own product in January. Bitwise’s ETF, launched in collaboration with the New York Stock Exchange (NYSE), gives investors direct exposure to spot bitcoin (BTC) and ethereum (ETH), weighted according to market capitalization. NYSE Arca filed a 19b-4 form with the SEC for the approval of this product in November.
The approval highlights the growing interest in crypto-related investment products, with asset management firms rushing to file ETFs as the new administration under President Donald Trump has indicated a potential for less stringent regulation. In addition to Bitcoin and Ethereum ETFs, firms have also filed for ETFs tracking the prices of memecoins like Dogecoin (DOGE) and other major cryptocurrencies like Solana (SOL).
Earlier in the day, Coinbase also filed paperwork to list futures products tied to Solana and Hedera.
