As a seasoned researcher with a keen interest in the ever-evolving world of finance and technology, I find myself enthralled by this latest development in the cryptocurrency market – the potential listing of the Bitwise Bitcoin and Ethereum ETF. With my background spanning decades of observing the evolution of financial instruments, it is fascinating to see how the industry continues to innovate and adapt to meet investor demands.
U.S. authorities have invited opinions regarding the proposal by NYSE Arca to list a combined Bitcoin (BTC) and Ether (ETH) Bitwise exchange-traded fund (ETF). This request was made in a document filed on December 10th.
On November 26th, Bitwise and NYSE submitted paperwork to the Securities and Exchange Commission (SEC) for their proposed Bitcoin and Ethereum ETF. Now, the SEC is progressing the application by inviting opinions from relevant parties within the industry. In simpler terms, the Bitwise Bitcoin and Ethereum ETF, a potential index fund combining BTC and ETH, aims to provide investors with a convenient way to invest in these two major global cryptocurrencies. This was highlighted by the asset manager on November 26th through their X platform post.
Mounting competition
According to industry experts, following the listing of funds containing Bitcoin (BTC) and Ethereum (ETH) earlier this year in January and July, there is growing interest among issuers to create Crypto Index Exchange Traded Funds (ETFs) as their next major project.
A plausible rephrasing for the given text: “Katalin Tischhauser, head of investment research at crypto bank Sygnum, stated to CryptoMoon in August that the most sensible move forward is likely exchange-traded funds (ETFs) based on indices, as indexes are beneficial for investors in a similar way to purchasing the S&P 500 through an ETF. She believes this will be applicable to cryptocurrency as well.
On November 27th, Bitwise submitted an application for listing another Exchange Traded Fund (ETF) on the New York Stock Exchange, known as the Bitwise 10 Crypto Index Fund. This fund aims to eventually include a diverse selection of cryptocurrency assets in its holdings.
On October 29, NYSE Arca submitted a request to the Securities and Exchange Commission (SEC) for approval to introduce a new index ETF known as the Grayscale Digital Large Cap Fund.
Competing crypto index funds, such as those developed by asset managers like Hashdex and Franklin Templeton, also enter the fray.
Crypto-friendly US leadership
The incoming U.S. President, Donald Trump, who has pledged to make the United States a global leader in cryptocurrency, is choosing individuals supportive of digital currencies to lead regulatory bodies as he assumes office on January 20, 2025.
As a researcher, I recall that in November, Chairman Gary Gensler of the Securities and Exchange Commission, recognized for his firm approach towards cryptocurrency regulations, announced his departure from the agency coinciding with the commencement of Donald Trump’s presidency.
During Gary Gensler’s leadership, starting from 2021, the Securities and Exchange Commission (SEC) adopted a firm regulatory approach towards cryptocurrencies, launching more than 100 regulatory measures against various companies in the sector.
Currently, under Trump’s leadership, various entities are attempting to launch different types of cryptocurrency investment funds, such as indexed ETFs and ETFs providing staking options.
Read More
- TNSR PREDICTION. TNSR cryptocurrency
- TRB PREDICTION. TRB cryptocurrency
- RLC PREDICTION. RLC cryptocurrency
- POL PREDICTION. POL cryptocurrency
- OKB PREDICTION. OKB cryptocurrency
- CTXC PREDICTION. CTXC cryptocurrency
- SEI PREDICTION. SEI cryptocurrency
- HOOK PREDICTION. HOOK cryptocurrency
- GBP EUR PREDICTION
- SXP PREDICTION. SXP cryptocurrency
2024-12-11 19:50