- The SEC approved Bitwise’s Bitcoin and Ethereum ETF for listing on NYSE Arca.
- Crypto firms like VanEck and ProShares have filed for new ETFs targeting assets like XRP and Solana.
- Bitwise’s ETF holds spot Bitcoin, Ethereum, and cash reserves for diversified exposure.
In a major development for crypto investors, the U.S. Securities and Exchange Commission (SEC) has approved NYSE Arca’s application to list and trade shares for Bitwise’s new combined Bitcoin and Ethereum ETF. This approval, granted on Thursday, came through on an “accelerated basis,” as confirmed by an official SEC filing.
The agency stated that the proposal aligns with Section 6(b)(5) of the Exchange Act, which requires exchange rules to prevent fraud and manipulation while safeguarding investors and the public interest. The green light for this ETF reflects a growing shift in regulatory attitudes under the current Trump administration, which has taken a friendlier stance on digital assets. This is a sharp contrast to the previous era, where former SEC Chair Gary Gensler often hesitated to approve crypto ETFs—only moving forward after being compelled by a court order.
A Changing Regulatory Landscape
The approval has sparked a wave of new crypto filings. VanEck and ProShares, for example, recently submitted ETF proposals to trade assets like Litecoin, XRP, and Solana. Meanwhile, Coinbase Derivatives is seeking approval from the Commodity Futures Trading Commission (CFTC) to offer futures on Solana (SOL) and Hedera (HBAR).
Bitwise’s ETF stands out by offering direct exposure to both spot Bitcoin and Ethereum, holding these assets alongside cash reserves, according to the filing. This follows earlier SEC approvals in December 2024, which allowed crypto index ETFs from Hashdex and Franklin Templeton to trade on Nasdaq and the Cboe BZX Exchange.
What’s Next?
With these regulatory shifts, crypto ETFs are becoming increasingly accessible to institutional and retail investors alike. The growing number of approvals hints at a future where diversified crypto investment products could become a core component of mainstream financial portfolios.
