Michaela Alvez
Bitwise Asset Management has filed an S-1 registration with the U.S. Securities and Exchange Commission (SEC) for a proposed crypto-mixed spot exchange-traded fund (ETF). The asset manager also outlined plans to launch trading for the ETF as an exchange-traded product (ETP) on the New York Stock Exchange (NYSE) Arca, pending regulatory approval.
In a recent announcement on X, Bitwise revealed that the NYSE Arca has “filed to list a Bitwise ETP that would both spot Bitcoin and Ether.”
According to Bitwise, the goal would be to “give investors balanced exposure to the two largest crypto assets in the world in an easy-to-access format.”
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
The filing does not specify an exact launch date for the offering, noting that it will occur “as soon as practicable after the effective date” of the Form S-1.
Bitcoin and Ethereum collectively represent over 70% of the cryptocurrency market, with a combined valuation of approximately $2.2 trillion. The proposed fund aims to offer investors streamlined access to these leading digital assets, aligning their portfolios with market recommendations.
Bitcoin and Ethereum ETFs Filed in NYSE Arca: What Will This Mean?
If Bitcoin and Ethereum ETFs are successfully filed and approved for listing on the NYSE Arca, several key implications and developments could follow.
One would be increased accessibility for investors, providing a straightforward way for them to gain exposure to Bitcoin and Ethereum without having to directly purchase or manage the underlying cryptocurrencies.
Approval would also mark a significant step toward integrating crypto into mainstream finance. With the inclusion of Bitcoin and Ethereum in ETFs, demand for these assets could rise, potentially driving up their liquidity and prices.
Additionally, NYSE Arca-listed ETFs would be subject to strict regulatory requirements, ensuring great transparency and investor protection. Bitcoin and Ethereum ETFs listed on NYSE Arca would signify a major milestone for the cryptocurrency sector, bridging the gap between digital assets and traditional financial markets.
Read More
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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
