US SEC greenlights Bitwise’s Bitcoin-Ethereum ETF

Source Cryptopolitan

The US Securities and Exchanges Commission (SEC) approved the 19B-4 filing on Bitwise’s Bitcoin-Ethereum ETF, bringing NYSE Arca one step closer to listing and trading shares of the fund.

The commission remarked, “In particular, the Commission finds that the Proposal is consistent with Section 6(b)(5) of the Exchange Act, which requires, among other things, that the Exchange’s rules be designed to ‘prevent fraudulent and manipulative acts and practices’ and, ‘in general, to protect investors and the public interest.”

Bitwise’s new ETF could start trading soon if the S-1 form is approved

On November 26, 2024, the NYSE Arca submitted a 19B-4 form on Bitwise’s combined Bitcoin and Ethereum exchange-traded fund. On Thursday, the commission approved the filing, saying the ETF application complied with the Exchange Act, particularly Section 6(b)(5) and Section 11A(a)(1)(C)(iii).

However, the regulatory agency has yet to approve the S-1 form for the Bitwise fund, which is necessary for trading to commence.

According to Bitwise, once fully approved, the ETF Trust will hold both spot Bitcoin and spot ether. 

The trust will also “provide exposure” to the value of Bitcoin and Ether to investors. Moreover, the Trust’s asset allocation to Bitcoin and Ether will be based on the tokens’ respective market capitalizations in accordance with Section 6(b)(5) of the Exchange Act.

On each Exchange trading day, the Administrator will also determine the Trust’s NAV and NAV per Share at 4:00 p.m. ET or at the earliest feasible time thereafter.

Several crypto corporations have filed registration forms with the SEC for crypto ETFs

With an expected change in crypto regulations under Trump’s administration, several crypto exchanges have filed for the approval of new crypto products.

Since late November, the SEC has received multiple exchange-traded fund applications for various assets, including XRP, Solana, and Litecoin. For starters, VanEck and ProShares submitted registration forms for Litecoin, XRP, and Solana’s ETFs.

Bitwise even proposed having a Dogecoin ETF, which would be interesting to see given Dogecoin is a meme coin whose value is heavily influenced by social media.

Furthermore, Coinbase Derivatives, a subsidiary of the largest US crypto exchange, filed to list new futures contacts for Solana and Hedera. If the subsidiary gets its Solana Futures approved, it will have a contract size of 100 SOL.

The SEC has so far approved filings from Nasdaq and the Cboe BZX Exchange to trade shares of crypto index ETFs from Hashdex and Franklin Templeton, respectively, in December 2024.

Both ETFs will first hold spot Bitcoin and Ether on a market cap-weighted basis before including other crypto assets. At the time, the ETF Store President Nate Geraci wondered if other crypto corporations would join and launch similar products, pointing out that there would be high demand for such funds.

Cryptopolitan Academy: Are You Making These Web3 Resume Mistakes? - Find Out Here

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Top 5 Crypto Coins Set to Explode in 2025 Find Out Which Ones Are On Investors’ RadarMany crypto experts believe that 2025 will give incredible returns as the bull run reaches its peak. The following altcoins are being tipped to lead the way, as Rollblock ($RBLK), Ethereum, Shiba Inu, Pepe, and Solana are all showing signs of phenomenal potential in the coming months. These tokens deserve an allocation in any well-balanced […]
Author  NewsBTC
Yesterday 08: 01
Many crypto experts believe that 2025 will give incredible returns as the bull run reaches its peak. The following altcoins are being tipped to lead the way, as Rollblock ($RBLK), Ethereum, Shiba Inu, Pepe, and Solana are all showing signs of phenomenal potential in the coming months. These tokens deserve an allocation in any well-balanced […]
placeholder
XRP Price Prediction: Wall Street Analyst Predict Much Lower However Expect A Surge Within Ethereum Altcoin RollblockCryptocurrency remains unparalleled in its ability to generate rapid 5-10x returns during a bull market, making it a prime opportunity for early investors. As altcoin season draws closer, the next couple of weeks could mark the final chance to accumulate high-potential safety net assets like XRP at discounted prices before momentum inevitably shifts upward and […]
Author  FXStreet
Yesterday 08: 20
Cryptocurrency remains unparalleled in its ability to generate rapid 5-10x returns during a bull market, making it a prime opportunity for early investors. As altcoin season draws closer, the next couple of weeks could mark the final chance to accumulate high-potential safety net assets like XRP at discounted prices before momentum inevitably shifts upward and […]
placeholder
Ripple's XRP set for 27% jump as asset managers gear up for XRP ETF filingsRipple's XRP is up 2% in the Asian session on Friday following the New York Stock Exchange (NYSE) Arca 19b-4 filing with the US Securities and Exchange Commission (SEC) for the conversion of Grayscale's XRP Trust into a spot ETF.
Author  FXStreet
6 hours ago
Ripple's XRP is up 2% in the Asian session on Friday following the New York Stock Exchange (NYSE) Arca 19b-4 filing with the US Securities and Exchange Commission (SEC) for the conversion of Grayscale's XRP Trust into a spot ETF.
placeholder
PCE Inflation: What’s the Market Expecting Ahead of Key Data Release?TradingKey - Inflation has been grabbing the headlines given markets are watching the every move of the US Federal Reserve (Fed) when it comes to interest rates.Lower, cooler inflation should technica
Author  TradingKey
6 hours ago
TradingKey - Inflation has been grabbing the headlines given markets are watching the every move of the US Federal Reserve (Fed) when it comes to interest rates.Lower, cooler inflation should technica
placeholder
Meta Stock Surges on Strong Q4 2024 Earnings: Is It Time to Buy Shares?Social media platforms have been in focus in recent months as potential beneficiaries of a TikTok ban in the US. One of the biggest platform owners in the social media space is Meta Platforms Inc (NAS
Author  TradingKey
2 hours ago
Social media platforms have been in focus in recent months as potential beneficiaries of a TikTok ban in the US. One of the biggest platform owners in the social media space is Meta Platforms Inc (NAS
goTop
quote