
SEC Gives Preliminar Approval to Bitwise’s Bitcoin and Ethereum ETF
The US Securities and Exchange Commission has given approval for NYSE Arca to list and trade shares of Bitwise’s consolidated Bitcoin and Ethereum exchange-traded fund.
In a filing submitted by the SEC on Thursday, it states that the Bitwise Bitcoin and Ethereum ETF has been approved on an expedited basis.
The SEC believes that the proposal is in compliance with Section 6(b)(5) of the Exchange Act, which requires the rules of the Exchange to be designed to prevent fraudulent and manipulative activities and to protect investors and the public interest.
Under the Trump administration, there has been a shift in the regulatory outlook, leading to several companies seeking approval from U.S. financial regulators for new crypto-related products.