Bitwise’s Bitcoin-Ethereum ETF gets initial SEC nod

Bitcoin and Ethereum, followed by negotiated products from Bitwise Asset Management, received the initial sign of the United States Securities and Exchange Commission.

According to a January 30 update Since the Commission, Bitwise Bitcoin and ETF ETF authorized its first regulatory obstacle after its 19B-4 file was granted “accelerated approval”. He is now awaiting the regulator’s decision on his S-1 recording, the last step before trading can start.

19B-4 approval allows an exchange of lists and exchanging a new financial product, while a S-1 recording is required to issue new titles to the public.

In the world laid For the FNB in ​​November in order to offer investors an exhibition in Bitcoin and Ethereum in a single product. The fund is structured to follow the prices in cash from Bitcoin and Ethereum, with asset weights based on their relative stock capitalizations.

Since its last deposit, the allowance was 83% Bitcoin and 17% Ethereum. The ETF will calculate these weights by multiplying the power supply of each asset with a pricing reference.

Although it is the first Crypto ETP approval as part of the new dry administration currently headed by acting president Mark Udeya, this is the third Bitcoin and ETF ETF ETF to receive a green light from the regulator .

Given that the fund structure closely reflects the products previously approved, such as the ETF Bitcoin and Ethers Ethereum from Hashdex and Franklin Templeton, the file was approved in the first deadline.

“The structure of the trust, the terms of its operation and the trade in its actions, and the representations of the modified file of the scholarship are significantly similar to those of the bitcoin spot and the ETP proposals of the Spot Ether approved in the orders of previous commission “, the SEC wrote.

Bitwise is currently waiting for the approval of two other products, including one DOGECOIN ETF for which he deposited an S-1 on January 29 and the Standard Bitcoin Corporations ETF This will invest in equity securities of listed companies holding more than 1,000 BTC in their corporate treasury bills.

The issuers hope that the new dry under President Donald Trump will be more open to a wider range of cryptographic investment products. As such, companies have started to explore ETFs beyond Bitcoin and Ethereum.

For example, Tuttle Capital A laid For ten LEVER EFT products that follow a variety of altcoins like XRP (XRP), Solana (Sol), Official Trump (Trump), Melania Same (Melania), etc. Other transmitters like Grayscale and Canary to also have laid For ETFs based on Altcoin.