SEC Approves Bitwise Bitcoin-Ethereum ETF Expansion

• Bitwise has obtained SEC approval for a Bitcoin-Ethereum ETF, joining Hashdex and Franklin Templeton.
• The ETF will allocate 83% to Bitcoin and 17% to Ethereum, based on their market cap weights.

The U.S. Securities and Exchange Commission approved the Bitwise Bitcoin and Ethereum ETF, enabling investors to be exposed to the two top cryptocurrencies under a single regulated product. With this approval, Bitwise became the third asset manager that secured approval for the joint BTC-ETH ETF in addition to Hashdex and Franklin Templeton.

Approval for its 19b-4 filing is one major regulatory clearance, but the ETF remains waiting for a final nod on its S-1 registration application for it to hit the exchange. Once approved, the fund will give investors direct exposure to spot prices of Bitcoin and Ethereum, weighted according to their market capitalization, 83% Bitcoin and 17% Ethereum.

Enhanced Institutional Interest in Crypto ETFs

It is led by Bitwise Investment Advisers with Coinbase being a crypto custodian, cash custodian, administrator, and transfer agent from the side of Bank of New York Mellon.

Bitwise filed the dual-crypto ETF in November 2024, just two months after the election victory of Donald Trump as a result of the regulatory turn of events where crypto-related ETF applications have grown. According to Bloomberg Intelligence analyst Nathan Dean, “Issuers are testing the SEC’s flexibility with various ETF proposals, such as memecoin-based propositions, like for example, the Dogecoin (DOGE).

This approval adds up to a swell of institutional crypto investment products. Bloomberg ETF Analyst James Seyffart recently explained that asset managers are “pushing the envelopes” of approvals by the Securities and Exchange Commission, after filing ten leveraged crypto ETF applications by Tuttle Capital. Yet other firms too have filed ETFs tracking some alternative cryptocurrencies.

Meanwhile, Coinbase keeps adding more regulated products, recently, the platform added futures contracts for Solana (SOL) and Hedera (HBAR). Optimism from Bitwise over the shifting regulatory landscape, as posted on X, “The current bull market could run into 2026 and beyond, with Washington embracing digital assets like never before.”

In addition, as demand for regulated crypto products grows through institutions, it may open doors to more diversified investment vehicles within the crypto space.