The US Securities and Exchange Commission (SEC) has approved NYSE Arca’s request to list Bitwise Bitcoin and Ethereum ETF and is asking for input from the industry on the application.
The Bitwise ETF is a fund that holds actual Bitcoin and Ethereum, providing investors with balanced exposure to the two largest cryptocurrencies.
This move comes as competition in the crypto index ETF market heats up, with analysts predicting it will be the next major focus for issuers after the success of BTC and ETH funds launched earlier this year.
Katalin Tischhauser, head of investment research at Sygnum, states that index ETFs will be the next logical step for investors, similar to buying the S&P 500 in an ETF.
Additionally, NYSE Arca has submitted applications for the Bitwise 10 Crypto Index Fund and Grayscale’s Digital Large Cap Fund.
