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The U.S. Securities and Exchange Commission (SEC) has begun gathering public opinions on a new exchange-traded fund (ETF) proposed by the cryptocurrency company Bitwise. The SEC is actively requesting comments on this ETF, which includes Bitcoin (BTC) 
$103,583 and Ethereum (ETH) 
$2,640, in order to further advance the application process.
BTC and ETH ETF
In the new filing, the regulatory body SEC indicates that it is seeking public comments on Bitwise’s ETF that combines Bitcoin and Ethereum. The purpose of this ETF is stated to facilitate investors’ easy access to the two largest cryptocurrencies.
Bitwise noted in a statement on the social media platform X that the dual ETP aims to provide investors with the opportunity to invest in Bitcoin and Ether in a balanced manner, weighted by market capitalization. The company expressed that its application submitted to NYSE Arca aims to present the world’s largest two cryptocurrencies in an easily accessible format.
SEC Requests Responses
The SEC stated that the new ETF will operate materially the same as previously approved Spot Bitcoin and Spot Ether ETPs. Spot market ETFs allow investors to gain exposure to certain assets without directly owning them.
“Interested parties are invited to submit written data, views, and arguments regarding the above-mentioned issues, including whether the proposed rule change complies with the laws.” – SEC
“NYSE Arca has applied to list the Bitwise ETP, which will hold both spot Bitcoin and Ether 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
Bitwise first announced its plans to launch the BTC and ETH ETF in an S-1 registration statement submitted to the SEC in November. Currently, the reported prices for BTC and ETH are $100,786 and $3,890, respectively.
This new ETP from Bitwise will allow investors easy access to Bitcoin and Ethereum, enabling portfolio diversification. The SEC’s public comments will play a significant role in the evaluation of the application.
Bitwise aims to offer a balanced option for investors by presenting both Bitcoin and Ethereum together. The SEC’s collection of public opinions may enhance transparency in the regulation of such products. These developments could provide crucial insights for investors when evaluating crypto investments.
