Bitwise Asset Management has filed applications with the U.S. Securities and Exchange Commission (SEC) to launch Bitcoin and Ether exchange-traded funds (ETFs) on the NYSE Arca. Announced on Nov. 21, the proposed ETFs aim to provide investors with direct exposure to the two largest cryptocurrencies by market capitalization through regulated and accessible investment vehicles. This move reflects the growing demand for institutional-grade crypto investment products.
The proposed funds would track the spot prices of Bitcoin and Ether, enabling investors to gain exposure without directly holding the underlying assets. Bitwise’s filing comes amid a wave of similar applications from major asset managers, signaling heightened competition to secure SEC approval in the evolving digital asset market. If approved, these ETFs could serve as a significant milestone in bridging traditional finance with the cryptocurrency ecosystem.
Bitwise has emphasized its commitment to transparency and investor protection, outlining measures to address concerns over market manipulation and liquidity. The company’s filing coincides with increasing optimism about the SEC’s willingness to greenlight spot crypto ETFs following years of resistance. Industry observers believe approval of such products could drive significant capital inflows into the crypto market, further legitimizing digital assets in the eyes of mainstream investors.
The race to launch spot Bitcoin and Ether ETFs underscores the accelerating institutionalization of the cryptocurrency industry. As leading financial firms vie for regulatory approval, Bitwise’s latest initiative reflects its ambition to remain at the forefront of this transformation. Approval of these ETFs would mark a turning point for crypto investments, potentially unlocking new opportunities for retail and institutional participants alike.
