SEC Clears Bitwise Bitcoin-Ethereum ETF, Awaiting S-1 Clearance for Trading

The US Securities and Exchange Commission (SEC) has approved the 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 the requirements of the Exchange Act. This section mandates that exchange rules be designed to prevent fraud and manipulation while protecting investors and the public interest.

Further Approval Needed for Trading

The NYSE Arca submitted the 19B-4 form for the ETF on November 26, 2024. The SEC approved it yesterday (Thursday), citing compliance with the Exchange Act. However, trading cannot begin until the SEC approves the fund’s S-1 registration statement.

Once fully approved, the Bitwise ETF Trust will hold both spot Bitcoin and spot Ether. The trust aims to provide exposure to these 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

More Crypto ETF Filings Submitted

Several cryptocurrency firms have submitted ETF applications to the SEC. Market participants anticipate regulatory changes under the Trump administration, leading to increased filings for crypto-based financial products.

Since November, the SEC has received applications for ETFs tied to assets such as XRP, Solana, and Litecoin. VanEck and ProShares have submitted filings for Litecoin, XRP, and Solana ETFs. Bitwise has also proposed a Dogecoin ETF. Dogecoin’s price is often influenced by 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

Additionally, Coinbase Derivatives has applied to list new futures contracts for Solana and Hedera. If approved, the Solana futures contract will have a size of 100 SOL.

New Crypto Index ETFs Draw Interest

In December 2024, the SEC approved filings from Nasdaq and Cboe BZX Exchange to list shares of crypto index ETFs from Hashdex and Franklin Templeton. These funds initially include spot Bitcoin and Ether, with the potential to add other crypto assets. Market analysts have noted strong investor interest in these products.