SEC Approves Bitwise Bitcoin & Ethereum ETF

The U.S. Securities and Exchange Commission (SEC) has granted accelerated approval for Bitwise’s Bitcoin and Ethereum ETF, allowing investors to gain exposure to both cryptocurrencies in a single fund.

This landmark decision represents a regulatory shift under the Trump administration, as the SEC moves toward a more crypto-friendly stance.

The ETF, launched in partnership with the New York Stock Exchange (NYSE), tracks spot Bitcoin (BTC) and Ethereum (ETH) prices based on market capitalization. The NYSE Arca filed for approval in November 2024.

A Major Step for Crypto ETFs

The SEC’s approval was based on Section 6(b)(5) of the Exchange Act, which requires that exchange rules:

✅ Prevent fraudulent and manipulative acts
✅ Protect investors and the public interest
✅ Ensure fair disclosure of pricing information
✅ Maintain fair and orderly markets

The agency stated:

“The Commission finds that the Proposal, as with other ETPs that the commission has approved, is reasonably designed to promote fair disclosure of information that may be necessary to price the Shares appropriately, to prevent trading when a reasonable degree of transparency cannot be assured, to safeguard material non-public information relating to the Trust’s portfolio, and to ensure fair and orderly markets for the Shares.”

This marks a dramatic shift from the SEC’s previous stance under former SEC Chair Gary Gensler, who resisted approving Bitcoin ETFs until a court ruling forced the agency’s hand in 2023.

Why This Matters

The approval of Bitwise’s dual Bitcoin-Ethereum ETF signals a broader regulatory acceptance of crypto investment products.

• It provides mainstream investors with easier access to Bitcoin and Ethereum without direct ownership.
• It follows the wave of spot Bitcoin ETF approvals that opened the floodgates for institutional crypto investment.
• It reflects the Trump administration’s pro-crypto policies, which aim to position the U.S. as a leader in digital asset markets.

Several other firms have recently filed for crypto-based ETFs, and Bitwise’s approval could set the stage for further SEC approvals.

What’s Next?

The SEC’s decision suggests Ethereum ETFs could soon follow the Bitcoin ETF boom, opening doors for:

📈 More multi-asset crypto ETFs
🏦 Increased institutional participation
💰 More capital flowing into Ethereum markets

With crypto adoption accelerating, the SEC’s latest move could redefine traditional finance’s approach to digital assets.

Bitwise’s ETF is now set to launch—and its performance will likely shape future crypto investment trends in the U.S.