The U.S. Securities and Exchange Commission (SEC) has given the green light to a filing by NYSE Arca to list and trade shares of the Bitwise combined Bitcoin (BTC) and Ethereum (ETH) ETF. An Accelerated Process The SEC approved the combined ETF on Thursday through an accelerated process. According to an official filing, the Commission specifically finds that the Proposal aligns with Section 6(b)(5) of the Exchange Act, which mandates that the rules of the Exchange be structured to prevent fraudulent and manipulative acts and practices and, overall, to safeguard investors and the public interest. Earlier in December 2024, the SEC also approved filings by Nasdaq and the Cboe BZX Exchange to list and trade crypto index ETFs by Hashdex and Franklin Templeton, respectively. The ETF Race Is On Meanwhile, numerous other firms have filed to introduce new cryptocurrency products to U.S. regulators, a shift in approach that began during the Trump administration. For example, former SEC Chair Gary Gensler was initially reluctant to approve Bitcoin ETF trading until a court order pushed the matter forward. Several filings for crypto ETFs were submitted by companies like VanEck and ProShares just before Inauguration Day, aiming to list products that track assets like Litecoin, XRP, and Solana. Elsewhere, Coinbase Derivatives has sought approval to list SOL and Hedera futures, regulated by the Commodity Futures Trading Commission (CFTC).
