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SEC Approves Bitwise Bitcoin and Ethereum ETF: A Milestone for Crypto

Coin WorldThursday, Jan 30, 2025 7:42 pm ET

1min read

The U.S. Securities and Exchange Commission (SEC) has approved the Bitwise Bitcoin and Ethereum Combination ETF, a significant milestone for the cryptocurrency industry. The fund, which will be listed on the New York Stock Exchange, offers investors exposure to both spot bitcoin (BTC) and ethereum (ETH), weighted by market capitalization.

The approval comes after the New York Stock Exchange filed a 19b-4 form with the SEC, seeking approval for the ETF. The fund aims to provide investors with a convenient and liquid way to gain exposure to the two largest cryptocurrencies by market capitalization.

The Bitwise Bitcoin and Ethereum Combination ETF is the latest in a series of spot bitcoin ETFs to receive approval from the SEC. The regulatory body has been increasingly open to cryptocurrency-related products, signaling a growing acceptance of digital assets in the mainstream financial landscape.

The approval of the Bitwise ETF is expected to boost the cryptocurrency market's prospects, as it provides institutional investors with a new avenue for accessing the asset class. The fund's exposure to both BTC and ETH also offers investors a diversified approach to the cryptocurrency market.

Bitwise Chief Investment Officer Matt Hougan expressed his excitement about the approval, stating that the ETF will provide investors with a simple and efficient way to gain exposure to the cryptocurrency market. The fund is designed to track the performance of the Bitwise Crypto Index, which includes the 10 largest cryptocurrencies by market capitalization.

The approval of the Bitwise Bitcoin and Ethereum Combination ETF is a testament to the growing maturity and acceptance of the cryptocurrency industry. As the regulatory landscape continues to evolve, investors can expect to see more innovative products and services emerging in the space.

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