Bitwise Plans to Launch ETF Linked to BTC and ETH
Bitwise has submitted a proposal to authorities for a mixed-based ETF incorporating Bitcoin and Ethereum. According to the S-1 filing document on November 26, Bitwise Asset Management has applied to the Securities and Exchange Commission (SEC) for approval of the Bitcoin-Ethereum-based spot ETF.
This proposal follows the recent approval and launch of their Bitcoin ETF options product last week. As a major issuer of multi-billion Bitcoin ETFs, the company aims to provide customers with balanced exposure and easier access to the two largest cryptocurrencies by market capitalization.
With a combined market capitalization of over $2.2 trillion, Bitcoin and Ethereum account for more than 70% of the current crypto market. This proposed fund would give investors recommended crypto options for their portfolios.
Both Bitcoin and Ethereum are widely used in decentralized finance (DeFi), making them a popular choice for investors. Since its launch this year, the BITB product from the Bitcoin spot ETF issuer has seen an influx of over $2.1 billion, making it the fourth largest issuer and generating billions of dollars in inflow.
