The U.S. Securities and Exchange Commission (SEC) has approved the listing and trading of the Bitwise Bitcoin and Ethereum exchange-traded fund (ETF).
The U.S. Securities and Exchange Commission (SEC) has approved the listing and trading of the Bitwise Bitcoin and Ethereum exchange-traded fund (ETF), according to a recent SEC filing. This decision will allow NYSE Arca to list and trade shares of the fund, which will hold both Bitcoin and Ethereum in its basket alongside cash reserves.
The approval was granted on an accelerated basis, as indicated in the SEC filing released on January 30, 1925. The approval follows a series of crypto-related ETF filings submitted by multiple financial firms in recent months.
In related news, Grayscale recently filed for a spot XRP ETF with the New York Stock Exchange (NYSE), according to a recent report. The asset manager is aiming to convert its existing XRP Trust into an ETF, which would be listed and traded on the exchange. This follows Grayscale's filing for Litecoin and Solana ETFs, indicating growing interest in crypto investment products.
However, the Bitwise ETF is still pending S-1 registration, which is required before the fund can begin trading on the exchange. Both steps are necessary for the fund to be listed and traded on NYSE Arca.
The S-1 registration review will determine the fund's compliance with regulatory standards, including measures for investor protection and transparency. Bitwise Asset Management will have to await further approval from the SEC before officially launching the ETF in the market.
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