- Bitwise proposed a mix-crypto Bitcoin and Ethereum ETP, weighted by market capitalization.
- Bitwise CIO Matt Hougan believes the ETP will be a huge hit with investors, offering a balanced exposure to two largest cryptocurrencies.
One of the largest crypto asset management companies, Bitwise has proposed a mix-crypto ETP consisting of both Bitcoin and Ethereum, weighted by market cap. NYSE Arca filed a 19b-4 form to list this product. Bitwise is a crypto specialist asset manager with more than $11 billion in client assets and its recent product listing is only going to deepen its roots in the crypto market.
Today, NYSE Arca filed to list a Bitwise ETP that would hold both spot bitcoin AND ether, weighted by market cap.
— Bitwise (@BitwiseInvest) November 26, 2024
The goal: Give investors balanced exposure to the two largest crypto assets in the world in an easy-to-access format. pic.twitter.com/TcBpQM8OhW
As per the full press release by Bitwise Investments, the Bitcoin and Ethereum ETP is pending approval of the Form 19b-4 filed by NYSE Arca, along with the effectiveness of a Form S-1 registration statement. They aim to offer a balanced exposure to investors, combining two largest crypto assets in the market.
Bitwise Bitcoin and Ethereum ETP: The First Mix-Crypto ETP
Bitcoin is known for its limited supply and exponential growth of value over the years. On the other hand, Ether fuels one of the most sophisticated blockchain, Ethereum. Both of these largest cryptocurrencies in the market account for roughly 70% of the global crypto market.
Bitwise CIO Matt Hougan believes that Bitcoin and Ethereum aren’t competitors anymore and their relation is similar to gold and tech stocks. That is the reason why he suggests inventors to invest in both.
Bitwise Investments is bringing the Bitcoin and Ethereum ETP to offer a simpler way to invest in both the cryptocurrencies at a time. Hougan believes the ETP is going to be a huge hit, offering a balanced exposure to BTC and ETH.
Bitwise Plans to Become a Strong Contender in Crypto
The latest Bitcoin and Ethereum ETP filing added to the list of highlights the Bitwise firm achieved so far in 2024. The crypto asset manager launched spot Bitcoin and spot Ethereum ETPs and acquired $4.2 billion worth of assets. Additionally, it also launched an Aptos staking ETP in Europe and acquired European crypto asset manager ETC Group.
Bitwise filed an S-1 for XRP ETP and a 19b-4 for spot Solana ETP. Furthermore, it also launched a staking service for Ethereum layer 2 blockchain Starknet. With all these filings and acquisitions, Bitwise emerges to be a strong contender in the crypto industry.
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