Originally published on: December 11, 2024
The Securities and Exchange Commission (SEC) is one step closer to approving NYSE Arca’s request to list a Bitwise exchange-traded fund (ETF) that will hold both Bitcoin and Ethereum. This move comes after filings were submitted by Bitwise and NYSE on Nov. 26, with the SEC now seeking comments from the industry.
The proposed Bitwise Bitcoin and Ethereum ETF aims to provide investors with balanced exposure to the two largest cryptocurrencies in the world. With the growing popularity of crypto index ETFs, industry experts believe this new fund could be the next big focus for issuers.
NYSE has also filed to list another Bitwise index ETF, the Bitwise 10 Crypto Index Fund, which will hold a broader basket of crypto assets. Additionally, the exchange has requested permission from the SEC to list a proposed Grayscale index ETF called Grayscale Digital Large Cap Fund.
As the crypto industry continues to evolve, issuers are exploring new opportunities to offer various crypto funds, including index ETFs and those that provide staking options. With a changing regulatory landscape under the leadership of US President-elect Donald Trump, who has expressed a desire to make the US the “world’s crypto capital,” the future of cryptocurrency investments is poised for growth.
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