Bitwise Submits S-1 Filing for ETF Holding Bitcoin and Ether
The post Bitwise Submits S-1 Filing for ETF Holding Bitcoin and Ether appeared on BitcoinEthereumNews.com.
The activity surrounding crypto ETFs is increasing. Bitwise filed an S-1 registration with the SEC to launch a balanced Bitcoin and Ethereum ETF, while VanEck also recently announced that it will be extending fee waivers for its Bitcoin ETF to maintain a competitive edge in the booming market that surpassed $100 billion in net assets. Bitcoin’s on-chain activity is nearing 1 million daily active users, which indicates that there is still growing retail adoption. Due to this, some analysts are optimistic about Bitcoin reaching $100,000 by the year’s end. Bitwise Files S-1 Registration for Bitcoin and Ether ETF NYSE Arca filed with the United States Securities and Exchange Commission (SEC) to list and trade shares of a new exchange-traded product (ETP) from asset management firm Bitwise. The product will provide balanced exposure to Bitcoin (BTC) and Ethereum (ETH). In a Form S-1 registration statement that was submitted on Nov. 26, Bitwise outlined its plans to launch a spot Bitcoin and Ether ETP, which will hold both assets in proportions reflecting their relative market caps. The product is designed to offer investors an accessible way to get exposure to the two largest cryptocurrencies. While Bitwise did not reveal a specific launch date, it stated that trading would start “as soon as practicable” after the filing’s approval. The SEC’s decision on the proposed ETP is still uncertain, particularly considering the anticipated leadership changes in the regulatory body. Chair Gary Gensler is set to step down on Jan. 20. His successor will be chosen by President-elect Donald Trump, who will take office in January. With the recent Republican victories in the House of Representatives and Senate, industry leaders speculate that the regulatory landscape could become a lot more favorable to cryptocurrency starting in 2025. Bitwise’s filing happened during a time of increased activity…
Filed under: News - @ November 27, 2024 6:17 am