SEC seeks public input on Bitwise Bitcoin and Ethereum ETF
The U.S. Securities and Exchange Commission (SEC) is actively seeking public comments on a new exchange-traded fund (ETF) proposed by Bitwise, which aims to provide balanced exposure to Bitcoin (CRYPTO:BTC)and Ethereum (CRYPTO:ETH).
This request for public input is part of the SEC's evaluation process for the ETF application, which includes both Bitcoin (BTC) and Ethereum (ETH).
In its filing, the SEC indicated that the ETF would facilitate easier access for investors to the two largest cryptocurrencies by market capitalization.
Bitwise has stated that the dual ETF is designed to allow investors to invest in Bitcoin and Ether in a balanced manner, weighted by market capitalization.
“Our goal is to provide balanced exposure to the world’s largest two cryptocurrencies and present it in an easily accessible format,” Bitwise noted in a statement on social media.
The SEC clarified that this new ETF would operate similarly to previously approved Spot Bitcoin and Spot Ether ETFs, allowing investors to gain exposure without directly owning the assets.
“Interested parties are invited to submit written data, views, and arguments regarding the above-mentioned issues,” the SEC stated in its announcement.
Bitwise initially announced its plans for the BTC and ETH ETF in November when it submitted an S-1 registration statement to the SEC.
The introduction of this ETF represents a significant step toward greater institutional adoption of cryptocurrencies.
Public comments will play a crucial role in shaping the SEC's decision on Bitwise's application, potentially influencing future regulatory approaches to crypto investment products.
At the time of reporting, the Bitcoin price was $99,662.83, and the Ethereum price was $3,908.08.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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