The United States Securities and Exchange Commission (SEC) has approved the listing of a combined Bitcoin and Ethereum ETF by Bitwise Asset Management. This approval, granted on an accelerated basis, marks a significant milestone in the wider acceptance of crypto based financial products by traditional investors.
The SEC approved the ETF on an accelerated basis, citing similarities with previously approved spot Bitcoin and Ethereum ETFs.
The Bitwise ETF offers exposure to both Bitcoin (BTC) and Ethereum (ETH) in a single fund, with asset allocations based on their relative market capitalizations—approximately 83% in Bitcoin and 17% in Ethereum.
This approval follows similar ETFs from Hashdex and Franklin Templeton, indicating the growing comfort of Securities and Exchange Commission (SEC) with crypto-backed investment vehicles.
While the ETF has cleared its first regulatory hurdle, it still requires approval for its pending S-1 registration to begin trading.
A broader audience may find the hybrid ETF structure interesting since it enables investors to obtain exposure to both Bitcoin and Ethereum without having to manage separate investments.
The approval reflects growing institutional interest in crypto investments and signals wider acceptance of crypto-based financial products.
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