Bitwise’s Bitcoin and Ethereum ETF clears first SEC hurdle
The US securities regulator has given the initial nod to Bitwise’s ETF tracking Bitcoin and Ether, weighted according to their relative market capitalizations.
The US Securities and Exchange Commission has given initial approval to Bitwise Asset Management’s exchange-traded fund tracking the price of Bitcoin and Ethereum.
The regulator on Jan. 30 approved the fund’s form 19b-4 — the first step in the process that would allow the ETF to start trading. Bitwise still needs the SEC to approve a pending registration application, known as a Form S-1, for the fund to go live.
The “Bitwise Bitcoin and Ethereum ETF” would give exposure to the spot price of Bitcoin (BTC) and Ether (ETH) in a single fund, weighted according to each asset’s relative market capitalizations. As of the date of filing, this was 83% BTC and 17% ETH.
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Author: Martin Young
