SEC Clears Bitwise Bitcoin-Ethereum ETF, Awaiting S-1 Clearance for Trading ⋅ Crypto World Echo
The US Securities and Exchange Commission (SEC) has approvedthe 19B-4 filing for Bitwise’s Bitcoin-Ethereum exchange-traded fund (ETF).This decision moves NYSE Arca closer to listing and trading shares of the fund.
In its statement, the SEC noted that the proposal meets therequirements of the Exchange Act. This section mandates that exchange rules bedesigned to prevent fraud and manipulation while protecting investors and thepublic interest.
Further Approval Needed for Trading
The NYSE Arca submitted the 19B-4 form for the ETF onNovember 26, 2024. The SEC approved it on Thursday, citing compliance with theExchange Act. However, trading cannot begin until the SEC approves the fund’sS-1 registration statement.
Once fully approved, the Bitwise ETF Trust willhold both spot Bitcoin and spot Ether. The trust aims to provide exposure tothese assets based on their market capitalizations. The fund’s net asset value(NAV) and NAV per share will be calculated at 4:00 p.m. ET each trading day.
🚨 NOW: The SEC has approved Bitwise’s #Bitcoin ETF and $ETH ETF. pic.twitter.com/pfx5VBbKow
— Cointelegraph (@Cointelegraph) January 30, 2025
More Crypto ETF Filings Submitted
Several cryptocurrency firms have submitted ETF applicationsto the SEC. Market participants anticipate regulatory changes under the Trumpadministration, leading to increased filings for crypto-based financialproducts.
Since November, the SEC has receivedapplications for ETFs tied to assets such as XRP, Solana, and Litecoin. VanEckand ProShares have submitted filings for Litecoin, XRP, and Solana ETFs.Bitwise has also proposed a Dogecoin ETF. Dogecoin’s price is often influencedby social media activity.
SEC已批准Bitwise比特币与以太坊组合ETF！Bitwise 的新基金将可同时持有现货比特币和以太坊。这份报告并不简单，不要忽视，不仅是加密货币融入主流金融体系的关键一步，也标志着监管机构对加密资产类别多样化的逐步接纳。… pic.twitter.com/wev7pY0331
— BITWU.ETH (@BTW0205) January 31, 2025
Additionally, Coinbase Derivatives has applied to list newfutures contracts for Solana and Hedera. If approved, the Solana futurescontract will have a size of 100 SOL.
New Crypto Index ETFs Draw Interest
In December 2024, the SEC approved filings from Nasdaq andCboe BZX Exchange to list shares of crypto index ETFs from Hashdex and FranklinTempleton. These funds initially include spot Bitcoin and Ether, with thepotential to add other crypto assets. Market analysts have noted stronginvestor interest in these products.
This article was written by Tareq Sikder at www.financemagnates.com.
