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  • ๏ปฟAnjali Belgaumkar
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    Writer by choice, CryptoCurrency Writer, and Researcher by chance. Currently, focusing on financial news and analysis, as well as cryptocurrency news and data. One may not call me a crypto โ€œEnthusiastโ€ but trust me I'm getting there.

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Big News: SEC Approves Bitwise Spot Bitcoin and Ethereum ETF

Story Highlights
  • SECโ€™s approval of Bitwiseโ€™s Bitcoin & Ethereum ETF opens doors for easier crypto access to mainstream investors.

  • Regulatory changes under Trump administration pave the way for new crypto products like Bitwiseโ€™s ETF.

The U.S. Securities and Exchange Commission (SEC) has approved Bitwiseโ€™s Bitcoin and Ethereum ETF, offering investors exposure to both cryptocurrencies. The approval, granted on an “accelerated basis” on Thursday, allows the fund to track both spot Bitcoin (BTC) and Ethereum (ETH) based on their market capitalization.

Regulatory Shift Opens Door for New Crypto Products

This approval marks a major shift in the regulatory landscape under the Trump administration, as several firms have recently sought to list new crypto products with the SEC. Bitwiseโ€™s ETF, launched in partnership with the New York Stock Exchange (NYSE), is designed to provide easier access to Bitcoin and Ethereum for mainstream investors. The NYSE Arca filed the necessary paperwork for the ETF in November 2024.

SECโ€™s Evolving Stance on Bitcoin ETFs

“In particular, the Commission finds that the Proposal is consistent with Section 6(b)(5) of the Exchange Act, which requires, among other things, that the Exchangeโ€™s rules be designed to ‘prevent fraudulent and manipulative acts and practices’ and, ‘in general, to protect investors and the public interest,”

the agency said.

It added,

โ€œThe Commission finds that the Proposal, as with other ETPs that the commission has approved, is reasonably designed to promote fair disclosure of information that may be necessary to price the Shares appropriately, to prevent trading when a reasonable degree of transparency cannot be assured, to safeguard material non-public information relating to the Trustโ€™s portfolio, and to ensure fair and orderly markets for the Shares.”

This approval follows a series of changes in the SEC’s stance on crypto products, including the previous hesitance of former SEC Chair gary gensler to approve Bitcoin ETF trading, which only occurred after a court ruling.

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