"SEC Speeds Up Crypto ETF Approval: Bitwise's Bitcoin & Ethereum ETF Gets Green Light in 45 Days"

The U.S. Securities and Exchange Commission (SEC) has granted accelerated approval for Bitwise’s spot Bitcoin (BTC) and Ethereum (ETH) Exchange-Traded Fund (ETF), significantly reducing the usual review process. The approval was given just 45 days after the filing, bypassing the standard 240-day period.

The SEC approved NYSE Arca’s 19b-4 filing on January 30, allowing Bitwise’s ETF to be listed and traded. The fund will allocate assets based on the market capitalization of Bitcoin and Ethereum, holding only these two cryptocurrencies along with cash reserves.

The SEC stated that the ETF was eligible for accelerated approval due to its similarity to previously approved spot crypto ETFs. “The Commission finds good cause to approve the Proposal prior to the 30th day after the date of publication of notice of Amendment No. 126 in the Federal Register,” the agency announced.

This decision follows the SEC’s approval of the first-ever combined Bitcoin and Ethereum ETFs from Hashdex and Franklin Templeton in December 2024. Industry analysts expected this approval, given the similarity to prior filings. The unusually fast approval, taking only 45 days instead of the standard 240-day review, has raised speculation about the SEC’s potential speeding up of future approvals.

The SEC’s approval process for this ETF began when NYSE Arca filed the 19b-4 form on November 26, 2024. Following a public comment period and an amendment on January 21, 2025, the regulator decided to expedite approval.

This marks another step forward for Bitwise in the crypto ETF sector. The investment firm has also applied for Solana (SOL), XRP (XRP), and Dogecoin (DOGE) ETFs. However, the approval of these meme coin ETFs remains uncertain due to their speculative nature.

The Bitwise 10 Crypto Index Fund is still under review. This fund is designed to track the performance of the top cryptocurrencies, potentially expanding Bitwise’s influence in the digital asset market.

With the SEC showing a willingness to approve crypto-related ETFs at a faster pace, the industry is closely watching how future filings,