Bitwise submits application for Bitcoin/Ethereum ETF in US
After Bitcoin, Ethereum and Ripple, Bitwise is working on a new ETF product in the United States that should combine "the best of both worlds." The New York Stock Exchange has filed an application with the U.S.
After Bitcoin, Ethereum and Ripple, Bitwise is working on a new ETF product in the United States that should combine "the best of both worlds."
The New York Stock Exchange has filed an application with the U.S. exchange watchdog SEC to list a Bitcoin-Ethereum ETF from asset manager Bitwise. This is according to the submitted documents. According to Bitwise, this new product offers investors a "easy access" to the two largest crypto currencies based on market capitalization. The company shared this via its platform X (formerly Twitter).
No approval date from the SEC is yet known. The regulator is on the verge of a restructuring after chairman Gary Gensler recently announced his resignation. The new chairman appears to be more positive toward crypto, which may increase Bitwise's chances.
Bitwise already has extensive experience in offering crypto-financial products. For example, with BITB and ETHW, the company offers both a Bitcoin and Ethereum Spot ETF in the US. An application for Ripple's XRP is currently pending.
In addition, Bitwise continues to expand its crypto services. Two weeks ago, the company acquired Ethereum strike service Attestant, which serves mostly institutional customers.
In August, Bitwise expanded its business in Europe by acquiring ETC Group, Europe's largest crypto-ETP' issuer.
