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SEC Approves Bitwise Spot Bitcoin and Ethereum ETF

The fund gives investors exposure feature exposure to both spot bitcoin and ether, weighted by market capitalization.

By Helene Braun, Nikhilesh De|Edited by Nikhilesh De
Updated Jan 30, 2025, 11:21 p.m. Published Jan 30, 2025, 11:08 p.m.
Bitwise Chief Investment Officer Matt Hougan
Bitwise Chief Investment Officer Matt Hougan (CoinDesk archives)

What to know:

  • The U.S. Securities and Exchange Commission has approved the launch of the Bitwise Bitcoin and Ethereum exchange-traded fund (ETF).
  • The fund gives investors exposure to both spot bitcoin (BTC) and ethereum (ETH), weighted by market capitalization.
  • The New York Stock Exchange had filed a 19b-4 form with the SEC in November.

The U.S. Securities and Exchange Commission approved another joint bitcoin and ether exchange-traded fund (ETF) Thursday, letting investors gain exposure to the two digital assets in one regulated financial product.

The SEC announced it had granted accelerated approval to Bitwise's Bitcoin and Ethereum ETF, just over a month after approving similar products filed by Hashdex and Franklin Templeton. Hashdex's Crypto Index ETF gives investors exposure to a basket of different cryptocurrencies, while Franklin Templeton said it would launch its product sometime in January.

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Bitwise's product, launched with the New York Stock Exchange, gives investors exposure to both spot bitcoin BTC$69,722.34 and ethereum ETH$2,080.49, weighted by market capitalization. NYSE Arca filed a 19b-4 form with the SEC last November.

Asset management firms have filed a flurry of crypto-related ETF applications in recent days, seeking to take advantage of new U.S. President Donald Trump's administration's promised lighter touch on regulatory issues.

Companies have filed for ETFs tracking the price of memecoins like DOGE$0.09767 and cryptocurrencies like Solana SOL$86.18.

Earlier Thursday, Coinbase also filed to list and trade futures products tracking Solana and Hedera.

UPDATE (Jan. 31, 2025, 01:21 UTC): Adds additional detail.

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