SEC Approves Bitwise Bitcoin-Ethereum ETF

The U.S. Securities and Exchange Commission (SEC) has granted accelerated approval for Bitwise's combined Bitcoin and Ethereum exchange-traded fund (ETF), allowing NYSE Arca to list and trade the fund, which allocates 83% to Bitcoin and 17% to Ethereum based on market cap. This approval, achieved in just 45 days, marks a significant milestone in crypto ETF approvals. Additionally, the SEC has acknowledged a proposal for a Litecoin ETF, opening it for public comment, indicating that Litecoin may soon follow Bitcoin and Ethereum in receiving ETF status. This acknowledgment has led to a 15% surge in Litecoin's price, reflecting investor optimism. The SEC's recent actions under Acting Chair Mark Uyeda suggest a potentially faster approval process compared to past leadership, possibly signaling a more crypto-friendly regulatory environment.