Bitwise proposes Bitcoin-Ethereum ETF to SEC – Latest Crypto News

Bitwise has proposed a new ETF that combines Bitcoin and Ethereum, two of the biggest players in the cryptocurrency market. The company, known for its Bitcoin spot ETF, aims to make it easier for investors to access and balance exposure to both Bitcoin and Ethereum through this new offering.

The proposal was recently submitted to the Securities and Exchange Commission (SEC), following the approval and release of Bitwise’s Bitcoin ETF options. The ETF would hold both Bitcoin and Ethereum, weighted by market cap, giving investors a unique opportunity to invest in the two largest crypto assets in the world.

Bitcoin and Ethereum currently make up over 70% of the crypto market, with a total market capitalization of around $2.2 trillion. This new fund is expected to be a hit with investors, offering a balanced and recommended option for those looking to diversify their portfolios. According to CIO Matt Hougan, Bitcoin and Ethereum are not competitors, but rather different assets that can complement each other, much like gold and tech stocks.

Bitwise has seen success with its previous ETF offerings, with billions of dollars flowing into its Bitcoin spot ETF since its launch earlier this year. The company also launched an Ethereum spot ETF in collaboration with BlackRock and Fidelity, which has seen significant inflows as well.

The total inflow for Bitwise’s Ethereum ETF is currently at $390 million, trailing behind Fidelity’s Ethereum Fund and iShares Ethereum Trust ETF. With the rising popularity of cryptocurrencies, Bitwise’s new proposal for a Bitcoin-Ethereum tied ETF could attract even more investors looking to capitalize on the growing market.