the 19B-4 filing for Bitwise’s Bitcoin-Ethereum exchange-traded fund (ETF).
This decision moves NYSE Arca closer to listing and trading shares of the fund.
In its statement, the SEC noted that the proposal meets the
requirements of the Exchange Act. This section mandates that exchange rules be
designed to prevent fraud and manipulation while protecting investors and the
public interest.
Further Approval Needed for Trading
The NYSE Arca submitted the 19B-4 form for the ETF on
November 26, 2024. The SEC approved it on Thursday, citing compliance with the
Exchange Act. However, trading cannot begin until the SEC approves the fund’s
S-1 registration statement.
Once fully approved, the Bitwise ETF Trust will
hold both spot Bitcoin and spot Ether. The trust aims to provide exposure to
these assets based on their market capitalizations. The fund’s net asset value
(NAV) and NAV per share will be calculated at 4:00 p.m. ET each trading day.
🚨 NOW: The SEC has approved Bitwise’s #Bitcoin ETF and $ETH ETF. pic.twitter.com/pfx5VBbKow— Cointelegraph (@Cointelegraph) January 30, 2025
More Crypto ETF Filings Submitted
Several cryptocurrency firms have submitted ETF applications
to the SEC. Market participants anticipate regulatory changes under the Trump
administration, leading to increased filings for crypto-based financial
products.
Since November, the SEC has received
applications for ETFs tied to assets such as XRP, Solana, and Litecoin. VanEck
and ProShares have submitted filings for Litecoin, XRP, and Solana ETFs.
Bitwise has also proposed a Dogecoin ETF. Dogecoin’s price is often influenced
by social media activity.
SEC已批准Bitwise比特币与以太坊组合ETF！Bitwise 的新基金将可同时持有现货比特币和以太坊。这份报告并不简单，不要忽视，不仅是加密货币融入主流金融体系的关键一步，也标志着监管机构对加密资产类别多样化的逐步接纳。… pic.twitter.com/wev7pY0331— BITWU.ETH (@BTW0205) January 31, 2025
Additionally, Coinbase Derivatives has applied to list new
futures contracts for Solana and Hedera. If approved, the Solana futures
contract will have a size of 100 SOL.
New Crypto Index ETFs Draw Interest
In December 2024, the SEC approved filings from Nasdaq and
Cboe BZX Exchange to list shares of crypto index ETFs from Hashdex and Franklin
Templeton. These funds initially include spot Bitcoin and Ether, with the
potential to add other crypto assets. Market analysts have noted strong
investor interest in these products.
This article was written by Tareq Sikder at www.financemagnates.com.
http://dlvr.it/THhbQv
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