The Securities and Exchange Commission (SEC) is asking for public feedback on a new exchange-traded product (ETP) from crypto firm Bitwise. This ETP would let investors easily access both Bitcoin (BTC) and Ethereum (ETH).
What’s the Deal?
Bitwise wants to create an ETP that holds both BTC and ETH, weighted according to their market values. The SEC’s request for public comment is a standard step in the approval process. They’re essentially asking if this new ETP aligns with existing laws.
Easy Access to Crypto Giants
Bitwise says the goal is simple: give investors a straightforward way to get exposure to the two biggest cryptocurrencies. This type of “spot market” ETF lets people invest in the assets without directly buying them. The SEC notes that this new ETP will function similarly to other Bitcoin and Ethereum ETPs they’ve already approved.
The Timeline
Bitwise first announced its plans for this dual BTC/ETH ETF back in November. At the time of writing, Bitcoin is trading around $100,786, and Ethereum is around $3,890.
Disclaimer: This information is for general knowledge only and is not financial advice. Always do your research before making any investment decisions.
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