SEC Approves Bitwise Bitcoin and Ethereum ETF in Just 45 Days
The U.S. Securities and Exchange Commission (SEC) has fast-tracked approval for Bitwise’s spot Bitcoin (BTC) and Ethereum (ETH) Exchange-Traded Fund (ETF), shortening the review process from 240 days to just 45 days.
- Approval granted on January 30 for NYSE Arca's 19b-4 filing.
- ETF will allocate assets based on market capitalization of Bitcoin and Ethereum, holding only these cryptocurrencies and cash reserves.
- SEC expedited approval based on similarities to previously approved spot crypto ETFs.
- First combined Bitcoin and Ethereum ETFs were approved in December 2024 by Hashdex and Franklin Templeton.
- Bitwise has also applied for ETFs for Solana (SOL), XRP, and Dogecoin, with uncertain approval prospects.
- Bitwise 10 Crypto Index Fund remains under review to track top cryptocurrencies.
- Industry observers note potential for quicker SEC approvals for future filings.