SEC Advances US Crypto Market with Swift Bitcoin and Ethereum ETF Approval
by aria-crypto.com
January 31, 2025 at 10:06
SEC Advances US Crypto Market with Swift Bitcoin and Ethereum ETF Approval
The U.S. Securities and Exchange Commission (SEC) has recently approved Bitwise's Bitcoin and Ethereum ETF, marking a significant step forward in cryptocurrency investments. This approval enables the Bitwise ETF to list on the New York Stock Exchange (NYSE), offering investors the opportunity to gain exposure to these major cryptocurrencies through traditional investment channels. Initially, the ETF will manage the creation and redemption of shares, restricting this to batches of no less than 10,000 shares. Bloomberg ETF analyst James Seyffart highlighted that this approval came swiftly, following previous approvals for similar funds, suggesting a more agile SEC approach under its current administration. The quick 45-day approval process strays from the SEC's usual more prolonged procedures, surprising industry experts and possibly indicating a shift towards a more accommodating regulatory stance on digital assets. Industry observers, like Nate Geraci, see this as a precursor to more comprehensive index-based and actively managed crypto ETFs. The anticipation now builds around whether further approvals will be expedited for other awaiting crypto funds, potentially opening the market to a broader array of regulated cryptocurrency investment products soon. With institutions like Kraken reintroducing staking for Ethereum and other altcoins, the US crypto investment landscape appears poised for significant growth and diversification.
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