The US Securities and Stock Exchange Commission (SEC) accelerated the Bitcoin and Ethereum ETF presented by Bitwise. This decision can be the beginning of a new era in the crypto market, while facilitating the access of investors directly to BTC and ETH. However, one more step is required for ETF to be fully traded.
Bitcoin and Ethereum ETF officially approved!
The SEC accepted Bitwise Bitcoin and Ethereum ETF with an accelerated approval process. With this approval, NYSE Arca will be able to list the ETF, which offers direct access to both crypto money to investors.
Bitwise ETF is designed to include Bitcoin, Ethereum and cash reserves. This structure aims to provide a more balanced investment opportunity to the two largest crypto presence of the market. SEC’s decision came after recently increasing crypto ETF applications.
Last obstacle for full transaction: S-1 record is expected
Although the 19b-4 form has been approved, Bitwise ETF must also confirm the S-1 recording to be traded. This process continues to provide investor protection measures and regulatory compliance.
Until the S-1 record is completed, ETF will not be officially traded in the markets. Bitwise Asset Management, while waiting for this last approval, investors closely follow the developments.
Does SEC’s view of crypto ETFs change?
This move of SEC shows that his attitude towards crypto investment products has changed. Recently, many financial institutions have made similar ETF applications. Grayscale’s XRP ETF application and Vaneck’s Litecoin, XRP and Solana ETF plans are among the biggest examples of this.
Last December, the crypto index ETFs of companies such as Hashdex and Franklin Templeton were approved. Bitwise also applied to the SEC for the Dogecoin ETF last week. These developments signal a major transformation in the market.
How did Bitcoin and Ethereum react to the SEC decision?
The ETF approval of SEC has created mobility in Bitcoin and Ethereum prices. After the news, Bitcoin increased by 1.13 %to $ 104,612. Ethereum gained 4 %in the last 24 hours and reached $ 3,269.
This development can be a great opportunity for crypto investors. But the eyes are now in the S-1 approval process. If it is completed, Bitcoin and Ethereum ETFs will officially start traded on stock exchanges!
