SEC Fast-Tracks Approval for Bitwise’s Dual Crypto ETF

The U.S. SEC has approved NYSE Arca’s request to list and trade shares of Bitwise’s dual Bitcoin and Ethereum exchange-traded fund (ETF).

The decision, fast-tracked by regulators, allows investors to gain exposure to both digital assets through a single product.

The SEC justified its approval by citing investor protection measures, emphasizing that the ETF aligns with existing safeguards against market manipulation and fraud. The fund itself will hold both Bitcoin and Ethereum, along with a portion of its assets in cash, providing diversified crypto exposure.

This decision comes amid a wave of new crypto-focused ETF filings, reflecting a shift in the regulatory climate. Companies such as VanEck and ProShares have submitted proposals for ETFs tracking Litecoin, XRP, and Solana, while Coinbase Derivatives has moved to introduce futures contracts for Solana and Hedera, under the supervision of the Commodity Futures Trading Commission (CFTC).

Bitwise’s latest ETF joins a growing list of approved crypto funds. Just weeks earlier, in December 2024, the SEC cleared index-based crypto ETFs from Hashdex and Franklin Templeton, which are now set to trade on Nasdaq and the Cboe BZX Exchange. These developments suggest that digital asset investment products are becoming an increasingly established part of the financial landscape.