The post US SEC greenlights Bitwise’s Bitcoin-Ethereum ETF appeared on BitcoinEthereumNews.com.

The US Securities and Exchanges Commission (SEC) approved the 19B-4 filing on Bitwise’s Bitcoin-Ethereum ETF, bringing NYSE Arca one step closer to listing and trading shares of the fund. The commission remarked, “In particular, the Commission finds that the Proposal is consistent with Section 6(b)(5) of the Exchange Act, which requires, among other things, that the Exchange’s rules be designed to ‘prevent fraudulent and manipulative acts and practices’ and, ‘in general, to protect investors and the public interest.” Bitwise’s new ETF could start trading soon if the S-1 form is approved On November 26, 2024, the NYSE Arca submitted a 19B-4 form on Bitwise’s combined Bitcoin and Ethereum exchange-traded fund. On Thursday, the commission approved the filing, saying the ETF application complied with the Exchange Act, particularly Section 6(b)(5) and Section 11A(a)(1)(C)(iii). However, the regulatory agency has yet to approve the S-1 form for the Bitwise fund, which is necessary for trading to commence. According to Bitwise, once fully approved, the ETF Trust will hold both spot Bitcoin and spot ether.  The trust will also “provide exposure” to the value of Bitcoin and Ether to investors. Moreover, the Trust’s asset allocation to Bitcoin and Ether will be based on the tokens’ respective market capitalizations in accordance with Section 6(b)(5) of the Exchange Act. On each Exchange trading day, the Administrator will also determine the Trust’s NAV and NAV per Share at 4:00 p.m. ET or at the earliest feasible time thereafter. Several crypto corporations have filed registration forms with the SEC for crypto ETFs With an expected change in crypto regulations under Trump’s administration, several crypto exchanges have filed for the approval of new crypto products. Since late November, the SEC has received multiple exchange-traded fund applications for various assets, including XRP, Solana, and Litecoin. For starters, VanEck and ProShares submitted…

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Filed under: News - @ January 31, 2025 6:26 am