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Bitcoin and Ethereum ETF from BitWise gets the first green light from SEC

AI Coins BTC and ETF have been created

The US Securities and Exchange Committee (SEC) has approved a major part of a new exchange fund (ETF) that would track bitcoin and ethereum, the largest encrypted currencies.

Bitcoin, Ethereum Management’s Bitcoin and Ethereum aims to provide investors by exposure to both digital assets, which are weighted by the market property. The fund’s structure will be similar to the current traded investment funds that carry directly Bitcoin or ETHER.

SEC agreed to present 19B-4 to the fund, a basic step in the approval process. However, BitWise still requires SEC clearance to apply its S-1 registration, which is necessary before trading begins.

bitcoin bitcoin and ethereum etf

“Bitcoin Bitcoin and Ethereum ETF” will provide BTC and Ether (ETH) in one box, likely by relative market tools – 83 % of BTC and 17 % of the deposit date.

ETF will determine the market value by hitting the standards of pricing by circulating the supply, according to the file.

Approval comes less than two weeks after a friendly acting chair took over for encryption on the Supreme Education Council.

Commissioner Mark Oida assumed the position of SEC Speaker, while the agency is waiting for the Senate’s assertion of President Donald Trump’s candidate for the permanent role, Paul Atkins.

BitWise investment consultants will manage the Fund, as Coinbase provides a nursery and the New York Mellon Bank as the cash agent, the transfer agent.

ETFS encryption is a boom after Trump’s return

Bitwise submitted a double request Crypto ETF in November, shortly after the US presidential election.

The elections were witnessed by Donald Trump, who expressed a more convenient position on the coded currency industry, returning to the office.

The administration has pledged to provide support regulations to put the United States as a leading center for digital assets.

SEC has received increasing numbers of ETF proposals from investment companies that seek to expand the scope of coding financial products.

The Bloomberg Nathan Dean analyst indicated that the exporters “are looking for the borders of the Supreme Education Council”, with some companies in order to submit the requests for investment funds circulated on the basis of coins.

BitWise proposed the presence of ETF Tracking Dogcoin, an encrypted currency known to volatile price movements affected by social media trends.

In addition, SEC has received requests for ETFS tracking assets such as XRP, Solana and Litecoin, which claims to provide different forms of benefit that exceeds speculation.

The US -based investment funds circulated in Bitcoin in early 2024 were given the attention of a strong investor.

A group of investment funds invested directly in Bitcoin – including one of BitWise – accumulated more than $ 121 billion in total assets.

The traded investment funds are followed later, with more than $ 11 billion of management assets so far.

The strong demand for these products reflects the increasing role of encrypted currencies in the investment portfolios, despite the continuous discussions about their classification and the long -term value suggestion.

Bitcoin and Ethereum ETF from Post BitWise get the first green light of SEC first on Invezz

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