The US Securities and Exchange Commission (SEC) granted accelerated approval for Bitwise Bitwise Asset Management’s hybrid Bitcoin-Ethereum exchange-traded fund (ETF).
On 30 January 2024, the SEC filing, approving Bitwise’s BTC-ETH ETF said, “the Trust’s allocation of its assets to bitcoin and ether will approximate the relative market capitalization of bitcoin and ether to one another.”
This move by the Trump administration’s SEC marks a pivotal moment in the crypto-based financial products offerings.
Meanwhile, Bitwise had been pushing for clearer regulations.
Trump administration may unfreeze M&A.
Large corporates — mag 7, etc — may finally be able to wield their market cap. Amazon could buy Instacart. Google could buy Uber. etc etc
The big may get bigger, and the middle may shrink.
If that happens, I think it will accelerate…
— Hunter Horsley (@HHorsley) January 5, 2025
In fact, according to a recent Bitwise survey of around 430 financial advisors across US, the factor most likely to make them more comfortable allocating to crypto in the future is clearer regulations. 55% advisors expressed regulatory concerns. Meanwhile, better education was the second most important at 42%.
Explore: Bitwise/VettaFi Survey Finds Financial Advisors Could Add More Crypto Exposure If There Were Clearer Regulations.
More About Bitwise Hybrid Bitcoin Ethereum ETF
The newly approved Bitwise Bitcoin-Ethereum ETF is designed to track the spot prices of Bitcoin and Ethereum, allocating assets based on their relative market capitalizations.
BREAKING:
THE U.S. SEC HAS APPROVED
BITWISE’S COMBINED BITCOIN-
ETHEREUM ETF. pic.twitter.com/idQQQvaGGF— Ash Crypto (@Ashcryptoreal) January 31, 2025
As of the filing date, the fund’s composition was approximately 83% Bitcoin and 17% Ethereum. This allocation reflects the dominance of these two cryptocurrencies in the global market.
The ETF will also include cash reserves to provide liquidity and stability. Custody services will be handled by Coinbase, while Bank of New York Mellon will serve as the cash custodian, administrator, and transfer agent. The product will be listed on NYSE Arca.
This hybrid structure offers investors a streamlined approach to accessing both assets without managing separate investments. It also represents a broader trend toward diversified crypto investment vehicles that cater to institutional and retail investors alike.
Leadership Changes In SEC
The SEC’s accelerated approval process for this ETF—completed in just 45 days compared to the usual 240-day review period—signals a shift in the SEC’s stance toward cryptocurrencies.
Moreover, the heated lawsuit between Ripple Labs and the US SEC has suddenly disappeared from the SEC website.
The case that started in December 2020 has no remaining references on the SEC website. This has led the crypto community to believe that after the Trump Administration and the new SEC leadership came into effect, the controversial war between Ripple and the SEC has officially been dropped.
Exlpore: Ripple Lawsuit Suddenly Disappears From SEC Website: Will XRP Rally?
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