US SEC approves Bitwise's combined Bitcoin and Ethereum ETF

The U.S. Securities and Exchange Commission approved a filing from NYSE Arca to list and trade shares for Bitwise's combined Bitcoin and Ethereum exchange-traded fund.

The agency approved the Bitwise Bitcoin and Ethereum ETF on Thursday on an "accelerated basis," according to a filing made by the SEC. 

"In particular, the Commission finds that the Proposal is consistent with Section 6(b)(5) of the Exchange Act, which requires, among other things, that the Exchange’s rules be designed to 'prevent fraudulent and manipulative acts and practices' and, 'in general, to protect investors and the public interest,'" the agency said.

Several firms have filed to list new crypto products with U.S. financial watchdogs amid a sea-change in regulatory outlook under the Trump administration. Former SEC Chair Gary Gensler was hesitant to approve Bitcoin ETF trading, for instance, prior to a court order. 

In particular, VanEck and ProShares submitted a flurry of crypto ETF filings to trade Litecoin, XRP and Solana in the days leading up to Inauguration Day while Coinbase Derivatives is looking to list SOL and Hedera futures overseen by the Commodity Futures Trading Commission.

Bitwise's new fund has exposure to spot bitcoin and ether and would hold both assets as well as cash, according to the filing. 

The agency previously approved filings in December 2024 from Nasdaq and the Cboe BZX Exchange to list and trade shares of crypto index ETFs from Hashdex and Franklin Templeton, respectively.