The U.S. Securities and Exchange Commission (SEC) is soliciting public comments regarding Bitwise’s new exchange-traded product (ETP).
In a recent filing, the regulatory agency announced that it is seeking feedback on Bitwise’s proposed exchange-traded fund (ETF), which would combine Bitcoin (BTC) and Ethereum (ETH) to further advance its application.
“Interested parties are invited to submit written data, views, and arguments on the matter, including whether the proposed rule change is consistent with the [law].”
In a post on the social media platform X, Bitwise stated that the goal of the dual ETP is to provide traders with easy access to the two largest digital assets by market capitalization.
“NYSE Arca filed to list a Bitwise ETP that would hold both spot Bitcoin and Ether, weighted by market cap. The objective: to offer investors balanced exposure to the two largest crypto assets in the world in a convenient format.”
Spot market ETFs enable investors to gain exposure to specific assets, such as precious metals or cryptocurrencies, without the need to directly purchase the assets themselves.
The SEC’s filing notes that the new ETP “will operate in materially the same manner as the Spot Bitcoin ETPs and Spot Ether ETPs previously approved by the Commission.”
Bitwise initially announced its plans to launch a BTC and ETH ETF in November when it filed an S-1 registration statement with the SEC.
At the time of writing, BTC and ETH are trading at $100,786 and $3,890, respectively.
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