YEREVAN (CoinChapter.com) — The U.S. Securities and Exchange Commission (SEC) has approved Bitwise’s spot Bitcoin (BTC) and Ethereum (ETH) Exchange-Traded Fund (ETF) in just 45 days, much faster than the usual 240-day review period.
On Jan. 30, 2025, the SEC approved NYSE Arca’s 19b-4 filing, allowing the Bitwise Bitcoin and Ethereum ETF to be listed and traded. The fund will allocate assets based on the market capitalization of Bitcoin and Ethereum and include cash reserves.
Bitwise ETF Approval Document. Source: SECSEC Justifies Fast Approval for Bitwise ETF
According to the SEC, the Bitwise ETF filing was similar to previously approved ETFs, allowing for faster processing. The agency stated:
“The Commission finds good cause to approve the Proposal prior to the 30th day after the date of publication of notice of Amendment No. 126 in the Federal Register.”
The decision follows the SEC’s approval of Hashdex and Franklin Templeton’s Bitcoin and Ethereum ETFs in December 2024.
Hashdex Crypto Index ETF Portfolio. Source: Chad SteingraberBloomberg ETF analyst James Seyffart pointed out that approval for Bitwise’s ETF made sense, given the prior approvals for similar products.
ETF Approval Deadlines Overview. Source: James SeyffartBloomberg’s Senior ETF Analyst Eric Balchunas reacted to the decision on X, saying it was expected.
SEC Accelerates Bitwise ETF Approval. Source: Eric BalchunasNYSE Arca’s Filing Process and SEC’s Review Timeline
NYSE Arca filed the 19b-4 application on Nov. 26, 2024. After a public comment period and a revision on Jan. 21, 2025, the SEC granted fast-track approval. The approval strengthens Bitwise’s position in the cryptocurrency ETF market.
Balchunas also commented on the speed of the decision, noting:
“I really want to interpret this as a sign the new SEC will be faster but no way to know really. Litecoin on deck, know more soon.”
Bitwise Expands ETF Applications Beyond Bitcoin and Ethereum
Bitwise has also filed for ETFs tied to Solana (SOL), XRP (XRP), and Dogecoin (DOGE). However, the SEC’s stance on meme coin ETFs remains uncertain due to higher volatility and speculative risks.
Meanwhile, Bitwise’s 10 Crypto Index Fund is still under review. The fund aims to track the performance of the top cryptocurrencies. The SEC has yet to issue a decision on the application.
At the moment of writing, Bitcoin (BTC) is trading at $104,198. The price shows a steady recovery, with a noticeable upward trend in recent days after fluctuating near the $100,000 mark.
Bitcoin Price Chart January 2025. Source: TradingViewEthereum (ETH) is trading at $3,243.38. The price shows a gradual recovery, maintaining stability above the $3,200 level after recent fluctuations.
Ethereum Price Chart January 2025. Source: TradingView
The post SEC Fast-Tracks Approval for Bitwise Bitcoin and Ethereum ETF appeared first on Coinchapter.
