The U.S. Securities and Exchange Commission (SEC) is currently seeking public opinion on crypto firm Bitwise’s new exchange-traded product (ETP) through a new filing. The regulatory agency is specifically interested in gathering comments on Bitwise’s new exchange-traded fund (ETF), which would hold a combination of Bitcoin (BTC) and Ethereum (ETH) to advance its application. Interested persons are encouraged to submit written data, views, and arguments regarding the proposed rule change’s consistency with the law. Bitwise stated its goal with the dual ETP was to provide traders with easy access to the two largest digital assets by market cap, Bitcoin and Ethereum.
Bitwise’s dual ETP, filed to be listed on NYSE Arca, would hold spot Bitcoin and Ether, weighted by market cap, aiming to give investors balanced exposure to these two major crypto assets in an accessible format. Spot market ETFs, like the one Bitwise is proposing, enable investors to be exposed to specific assets, such as precious metals or cryptocurrencies, without needing to purchase them directly. The SEC notes in the filing that the new ETP would operate similarly to previously approved Spot Bitcoin and Spot Ether ETPs. Bitwise had initially announced its plan to launch a BTC and ETH ETF back in November when it filed an S-1 registration statement with the SEC, and currently, BTC and ETH are trading for $100,786 and $3,890, respectively.
The U.S. Securities and Exchange Commission (SEC) is asking for public comments on Bitwise’s new exchange-traded product (ETP) in a recent filing. This ETP would hold a combination of Bitcoin (BTC) and Ethereum (ETH) to advance its application for an exchange-traded fund (ETF). The public is invited to submit their views, data, and arguments regarding the proposed rule change’s compliance with the law. Bitwise has expressed its goal with the dual ETP is to provide traders with easy access to Bitcoin and Ethereum, the two largest digital assets by market cap.
Bitwise’s new dual ETP, filed to be listed on NYSE Arca, plans to hold spot Bitcoin and Ether, weighted by market cap. The aim is to give investors a balanced exposure to the two major crypto assets in a format that is easy to access. Spot market ETFs, such as the one Bitwise is proposing, allow investors to be exposed to specific assets, like precious metals or cryptocurrencies, without the need to buy them directly. The SEC notes in the filing that this new ETP will operate similarly to previously approved Spot Bitcoin and Spot Ether ETPs. Bitwise had announced its plan to launch a BTC and ETH ETF in November through an S-1 registration statement with the SEC. Currently, Bitcoin and Ethereum are trading at $100,786 and $3,890, respectively.
The U.S. Securities and Exchange Commission (SEC) is seeking public opinion on a new exchange-traded product (ETP) by Bitwise that would hold a combination of Bitcoin (BTC) and Ethereum (ETH). This ETP is being proposed as an exchange-traded fund (ETF) and the SEC is looking for feedback from the public on the matter. Interested individuals are encouraged to provide their views, data, and arguments on whether the proposed rule change is consistent with the law. Bitwise has stated that the goal of the dual ETP is to provide traders with easy access to the two largest digital assets by market cap, Bitcoin and Ethereum.
Bitwise’s new ETP, filed to be listed on NYSE Arca, would hold spot Bitcoin and Ether in a weighted manner based on market cap. The objective is to offer investors a balanced exposure to the top two crypto assets in an easily accessible format. Spot market ETFs, like the one proposed by Bitwise, allow investors to get exposure to specific assets, including precious metals or cryptocurrencies, without having to purchase them directly. The SEC acknowledges in the filing that the new ETP will operate similarly to previously approved Spot Bitcoin and Spot Ether ETPs. Bitwise had initially revealed its plan to launch a BTC and ETH ETF in November by filing an S-1 registration statement with the SEC. As of now, Bitcoin and Ethereum are trading at $100,786 and $3,890 respectively.
