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The fund gives investors exposure feature exposure to both spot bitcoin and ether, weighted by market capitalization.
By Helene Braun, Nikhilesh De|Edited by Nikhilesh De
Updated Jan 30, 2025, 11:21 p.m. UTCPublished Jan 30, 2025, 11:08 p.m. UTC
What to know:
- The U.S. Securities and Exchange Commission has approved the launch of the Bitwise Bitcoin and Ethereum exchange-traded fund (ETF).
- The fund gives investors exposure to both spot bitcoin (BTC) and ethereum (ETH), weighted by market capitalization.
- The New York Stock Exchange had filed a 19b-4 form with the SEC in November.
The U.S. Securities and Exchange Commission approved another joint bitcoin and ether exchange-traded fund (ETF) Thursday, letting investors gain exposure to the two digital assets in one regulated financial product.
The SEC announced it had granted accelerated approval to Bitwise’s Bitcoin and Ethereum ETF, just over a month after approving similar products filed by Hashdex and Franklin Templeton. Hashdex’s Crypto Index ETF gives investors exposure to a basket of different cryptocurrencies, while Franklin Templeton said it would launch its product sometime in January.
STORY CONTINUES BELOW
Bitwise’s product, launched with the New York Stock Exchange, gives investors exposure to both spot bitcoin (BTC) and ethereum (ETH), weighted by market capitalization. NYSE Arca filed a 19b-4 form with the SEC last November.
Asset management firms have filed a flurry of crypto-related ETF applications in recent days, seeking to take advantage of new U.S. President Donald Trump’s administration’s promised lighter touch on regulatory issues.
Companies have filed for ETFs tracking the price of memecoins like Dogecoin (DOGE) and cryptocurrencies like Solana (SOL).
Earlier Thursday, Coinbase also filed to list and trade futures products tracking Solana and Hedera.
UPDATE (Jan. 31, 2025, 01:21 UTC): Adds additional detail.
Helene is a New York-based news reporter at CoinDesk, covering news about Wall Street, the rise of the spot bitcoin exchange-traded funds (ETFs) and updates on crypto exchanges. She is also the co-host of CoinDesk’s Markets Daily show on Spotify and Youtube. Helene is a recent graduate of New York University’s business and economic reporting program and has appeared on CBS News, YahooFinance and Nasdaq TradeTalks. She holds BTC and ETH.
Nikhilesh De is CoinDesk’s managing editor for global policy and regulation, covering regulators, lawmakers and institutions. When he’s not reporting on digital assets and policy, he can be found admiring Amtrak or building LEGO trains. He owns < $50 in BTC and < $20 in ETH. He was named the Association of Cryptocurrency Journalists and Researchers’ Journalist of the Year in 2020.
