Bitwise’s Bitcoin and Ethereum ETF Gets SEC’s Green Light
The US Securities and Exchange Commission (SEC) has initially approved Bitwise’s spot Bitcoin (BTC) and Eto Exchange Trading Fund (ETF).
The SEC confirmed that the file was accelerated. This is after the regulatory agency approves an ETF last month.
SEC approves Bitwise’s Bitcoin and Ethereum ETF
On January 30, SEC approved the 19B-4 filing of NYSE ARCA. This file allows Bitwise to combine Bitcoin And the Ethereum ETF will be listed and traded.
According to the document, the fund distribution of the fund will closely reflect the relatives The market value of Bitcoin and Ethereum. In addition, its shareholding will be limited to these two cryptocurrencies and cash reserves.
It is worth noting that according to the SEC, the file has been accelerated. The agency determines that the filing is basically similar to other documents Approved position encryption ETFThis allows the approval process.
“The committee issued a good reason before the 30th day before the federal registered revision notification date,” SEC statementEssence
This development follows SEC’s approval of the first merger in history Bitcoin and Ethereum ETF from Hashdex and Franklin Templeton December 2024.
Bloomberg Social ETF Analyst James Sayafat Point out On X.
Bloomberg Advanced ETF analyst Eric Balchunas also commented on the decision on social media platforms. He said that the decision was “news but expected”.
“Even Gensler’s SEC will approve this,” Balchunas WriteEssence
Balchunas also emphasizes the speed of SEC decision. He pointed out that the approval process only costs 45 days instead of a standard 240 -day review period.
“I really want to explain it as a sign of the new SEC, but I can’t actually know. Litecoin is on the deck, and soon know it.” He added.
The New York Stock Exchange ARCA submitted 19B-4 on November 26, 2024. After the document was revised on the public comment period and January 21, 2025, the SEC decided to quickly approve its approval. The approval adds to the growing footprint of Bitwise in the encryption ETF space.
Investment manager also submitted Solana (sol), XRP (XRP) applicationand Dogecoin (Doge) ETF. Nevertheless, since it is higher volatility And speculative nature, whether the SEC will approve the cause of coin ETFs to be observed.
at the same time, Bitwise 10 encryption index fund is still under reviewEssence The fund aims to track the performance of top -level cryptocurrencies.
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