SEC Approves NYSE Request to Trade Bitwise Dual Bitcoin and Ethereum ETF


Investors can now gain exposure to another ETF holding Bitcoin and Ethereum, thanks to the SEC approval of the NYSE Arca filing.  

On Thursday, the U.S. SEC assented to NYSE’s filing to list and trade shares of Bitwise’s Ethereum and Bitcoin exchange-traded fund (ETF). 

According to a statement, the securities watchdog issued its approval on an accelerated basis. The SEC emphasized that it finds NYSE Arca’s “proposal consistent with the Exchange Act and rules applicable to a national securities exchange.” 

SEC Approval 

For context, NYSE officially filed to list and trade shares of Bitwise’s spot Bitcoin and Ethereum ETF on November 26, 2024. Afterward, the filing was published in the Federal Register on December 16, 2024, with an amended filing submitted on January 21, 2025. 

The investment product aims to expose investors to Bitwise’s Bitcoin and Ethereum based on their market cap weightings. Following its review, the SEC found that NYSE Arca’s filing is similar to previous spot Bitcoin ETF and spot Ethereum ETP proposals approved in the past. 

“NYSE Arca’s amended filing is similar to filings for other spot bitcoin and spot ether ETPs approved by the Commission. Accordingly, the Commission finds good cause to approve the Proposal on an accelerated basis,” an excerpt from the SEC notice read. 

The development comes over a month after the U.S. SEC approved similar products from Hashdex and Franklin Templeton. As previously reported, the Hashdex ETF will trade on the Nasdaq, while investors can trade Franklin’s fund on Cboe BZX. 

Bloomberg ETF Analyst Reacts, Says Litecoin ETFs Are Next

In a tweet, Eric Balchunas, a senior ETF analyst at Bloomberg, disclosed his earlier expectations about the SEC approving the Bitwise dual Bitcoin and Ethereum ETF. 

However, Balchunas pointed out that the approval was faster, with the SEC issuing this decision in 45 days compared to the expected wait time of 240 days. Notably, Balchunas hopes that the speed of the approval indicates that the current SEC leadership will be faster. 

Furthermore, he emphasized that ETF filings relating to Litecoin are the next in line for consideration.  

Crypto ETF Applications Soar  

Recall that the previous administration hesitated to approve spot ETFs of Bitcoin and Ethereum. However, the ultimate approval came after a court order mandated the SEC to reconsider its stance on Grayscale’s decision to convert its Bitcoin Trust (GBTC) to a spot ETF.

In January 2024, the SEC approved multiple spot Bitcoin ETFs. A few months later, it also approved several applications for spot Ethereum ETF. 

Following Donald Trump’s re-election, several asset management companies filed multiple crypto-related applications, including the recently approved NYSE Arca filing. These companies hope to take advantage of Trump’s pro-crypto support to introduce more crypto ETFs. 

Interestingly, other prospective issuers are also filing for ETFs that track the prices of altcoins like XRP, Solana, Dogecoin, and Litecoin. The odds of the potential approval of these applications have soared tremendously due to the inception of a pro-crypto administration led by Trump. 

DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.





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