[NEWS] SEC approves Bitcoin and Ethereum hybrid physical ETF

On the 30th, the SEC (U.S. Securities and Exchange Commission) approved a hybrid spot ETF combining Bitcoin (BTC) and Ethereum (ETH) submitted by cryptocurrency management company Bitwise. This is the first time that a spot ETF combining Bitcoin and Ethereum has been approved.

This ETF is called the "Bitwise Bitcoin and Ethereum ETF" and will be linked to the market capitalization of Bitcoin and Ethereum at a certain rate. As of the application date, the asset ratio is 83% Bitcoin and 17% Ethereum. It is scheduled to be traded on NYSE Arca in the future.

With the emergence of a hybrid ETF, investors will be able to gain exposure to both Bitcoin and Ethereum at the same time. In the past, applications for hybrid cryptocurrency spot ETFs have been submitted by Grayscale and others, but there has been no example of a spot ETF combining Bitcoin and Ethereum.

Since President Trump took office this month, cryptocurrency ETF applications have been filed one after another in the United States. In addition to Solana (SOL), XRP, Litecoin (LTC), and others that were filed last year, ETFs linked to Dogecoin (DOGE), Hedera (HBAR), and Trump's official meme coin, TRUMP, have been filed.

All of these applications were made in light of the transition to a Trump administration that has shown a positive attitude toward cryptocurrencies, and expectations for approval are growing in the cryptocurrency market. Cryptocurrency-related companies are also expressing their hopes for accelerated approval of cryptocurrency ETFs, and Monica Long, president of Ripple, which issues XRP, expressed confidence this month, saying, "(XRP ETF) will be realized soon."

Reference: Announcement
Image: Shutterstock

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