- The New York Stock Exchange (NYSE) Arca filed a Form 19b-4 with the U.S. SEC to list and trade shares of Bitwise’s Bitcoin and Ethereum ETF.
- The proposed ETF is a market-capitalization-weighted fund that seeks to provide investors with balanced exposure to Bitcoin (BTC) and Ethereum (ETH), the two largest cryptocurrencies by market capitalization.
- The ETF will track BTC’s value using the CME CF Bitcoin – New York Variant and ETH’s value using the CME CF Ethereum – Dollar Reference Rate – New York Variant, aiming to offer transparent and reliable pricing for its underlying assets.
The New York Stock Exchange (NYSE) has filed a Form 19b-4 with the U.S. Securities and Exchange Commission (SEC) seeking approval to list and trade shares of a new Bitcoin and Ethereum exchange-traded fund (ETF). The proposed ETF aims to provide investors with balanced exposure to the two largest cryptocurrencies.
NYSE Filing Details for the Bitcoin and Ethereum ETF
The Bitwise Bitcoin and Ethereum ETF is structured as a market-capitalization weighted fund that will hold Bitcoin and Ethereum. The ETF’s investment objective is to provide exposure to the assets it holds, minus any operational expenses and liabilities. Net Asset Value (NAV) will be calculated daily using trusted CME CF pricing benchmarks specific to each cryptocurrency.
Significance of the Latest Move
This filing underscores growing institutional interest in cryptocurrencies as the crypto ETF market continues to evolve. If approved, the Bitwise Bitcoin and Ethereum ETF would represent a milestone in integrating digital assets into mainstream finance. The ETF aligns with Bitwise’s broader mission of providing regulated crypto investment products. Earlier this year, Bitwise launched spot Bitcoin and Ethereum ETFs, merging crypto with traditional finance.
Conclusion
The proposed NYSE-listed Bitcoin and Ethereum ETF aims to simplify crypto exposure for investors. By tracking the leading cryptocurrencies, the fund could appeal to those seeking balanced and straightforward access to the digital asset class. The SEC will now review the proposal, with a decision expected in coming months.
