The US Securities and Exchange Committee (SEC) has approved Bitwise’s bitcoin and Ethereum Exchange Fund (ETF) on acceleration basis.
With this decision, NYSE ARCA can list and trade new fund stocks that hold both spot -bitcoin and ether.
The approval of the SEC announced on Thursday is worth noting because it matches section 6 (B) (5) of the Exchange Law. This section requires exchanges designed to prevent fraudulent and operational practices while protecting investors and public interests.
Bitwise’s ETF shows an important development of the evolving status of cryptographic investment products in a change in regulated attitudes. Approval is that multiple companies, including Vaneck and Proshares, are trying to introduce various encryption products. These submissions include proposals for exchanging other ciphers such as Litecoin, XRP, and Solana, reflecting more promotion to the acceptance of regulatory authorities in this sector.
The recent regulations show a shift from the previous SEC leadership under the former chairman’s Gary Gensler, who paid attention to the approval of Bitcoin ETF. Later, the court ordered a re -evaluation of these policies.
In addition to the Bitwise ETF, SEC has previously approved filing from NASDAQ and CBOE BZX Exchange in December 2024, and has allowed and transactions and transactions from Hashdex and Franklin Templeton for Crypto Index ETF.