dailyhodl.com
The U.S. Securities and Exchange Commission (SEC) is asking the public’s opinion on crypto firm Bitwise’s new exchange-traded product (ETP).
In a new filing, the regulatory agency says it’s seeking comments from the public on Bitwise’s new exchange-traded fund (ETF), which would hold a combination of Bitcoin (BTC) and Ethereum (ETH), to advance its application.
“Interested persons are invited to submit written data, views and arguments concerning the foregoing, including whether the proposed rule change is consistent with the [law].”
In a thread on the social media platform X, Bitwise stated its goal with the dual ETP was to simultaneously give traders easy access to the two biggest digital assets by market cap.
“NYSE Arca filed to list a Bitwise ETP that would hold both spot Bitcoin and Ether, weighted by market cap. The goal: give investors balanced exposure to the two largest crypto assets in the world in an easy-to-access format.”
Spot market ETFs allow investors to expose themselves to specific assets, such as precious metals or crypto, without the need to actually purchase them.
In the filing, the SEC notes that the new ETP “will operate in materially the same manner as the Spot Bitcoin ETPs and Spot Ether ETPs previously approved by the Commission.”
Bitwise first announced its plan to launch a BTC and ETH ETF in November when it filed an S-1 registration statement with the SEC.
BTC and ETH are trading for $100,786 and $3,890 at time of writing respectively.
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