- SEC approves Bitwise Bitcoin-Ethereum ETF, exposure to both assets in one regulated product.
- Bitwise joins Hashdex and Franklin Templeton and becomes the third firm approved for a joint BTC-ETH ETF.
The Securities and Exchange Commission has approved the Bitwise Bitcoin and Ethereum ETF (Exchange Traded Fund) which allows investors to gain exposure to both assets in a single-regulated product.
The approval of the fund’s 19b-4 filling for the Assets Management Firm is a first step before it launches, then SEC clearance for its pending registration application (FORM S-1).
Bitwise ETF Gains Key SEC Approval Amid Expanding Crypto Offerings
Bitwise’s ETF, named the Bitwise Bitcoin and Ethereum ETF, will track the spot prices of Bitcoin and Ethereum, with their relative market capitalization. The filing emphasizes that the funds are composed of 83% Bitcoin and 17% Ethereum.
The fund will be managed by Bitwise Investment Advisers, Coinbase handles custody, while Bank of New York Mellon serves as the cash custodian, administrator, and transfer agent.
The SEC’s decision comes during a regulatory shift under the Trump administration, which has led to an uptick in crypto-related ETF applications.
Bitwise already filed for its joint Bitcoin-Ethereum ETF in November 2024, shortly after Trump’s election victory. Bloomberg Intelligence analyst Nathan Dean commented on the growing wave of ETF filings; he said, “Issuers are probing the SEC’s boundaries with unique filings, including memecoin ETFs.”
This ETF approval makes Bitwise the third asset manager allowed for a joint Bitcoin and Ethereum ETF, following similar approvals for Hashdex and Franklin Templeton on Dec. 19.
Unlike some ETFs that track multiple crypto assets, Bitwise’s fund focuses solely on Bitcoin and Ethereum, the two largest cryptocurrencies by market cap.
ETF Issuers Test SEC Limits as Crypto Regulation Evolves
The global crypto industry is pushing new investment products into the market. Bloomberg ETF analyst James Seyffart recently noted that issuers are “testing the limits of what this SEC is going to allow” following Tuttle Capital’s filing for ten leveraged crypto ETFs.
Several asset management firms have also recently submitted applications for ETFs tracking alternative cryptocurrencies like Dogecoin (DOGE) and Solana (SOL). Eric, an analyst, also noted that the role of the new SEC will be of great importance in the crypto industry.
Moreover, Coinbase already introduced futures products for Solana (SOL) and Hedera (HBAR), adding further developments to crypto investment offerings in regulated markets.
Bitwise expressed optimism about the future of crypto in a post on X.
“The current bull market could run into 2026 and beyond, with Washington embracing digital assets like never before.”
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