Bitcoin ETF Approved SEC Greenlights Bitwise

SEC Approves Bitwise ETF for Bitcoin and Ethereum

• The SEC approved the Bitwise Bitcoin and Ethereum ETF on an accelerated basis.
• NYSE Arca is authorized to list and trade shares of the fund.
• The ETF will hold spot Bitcoin, Ethereum, and cash reserves.
• Pending S-1 registration approval is required before trading can commence.
• The decision aligns with Section 6(b)(5) of the Exchange Act to protect investors.

The SEC’s accelerated approval allows NYSE Arca to list the Bitwise ETF, which includes holdings in both Bitcoin and Ethereum. However, trading awaits further clearance of a pending S-1 registration.