The U.S. Securities and Exchange Commission (SEC) has granted approval for Bitwise’s combined Bitcoin and Ethereum exchange-traded fund (ETF) on an accelerated basis.

Bitwise's product, launched with the New York Stock Exchange, gives investors exposure to both spot bitcoin (BTC) and ethereum (ETH), weighted by market capitalization. NYSE Arca filed a 19b-4 form with the SEC last November.

Ethereum maintains price levels above $3,100 as exchange reserves hit multi-year lows, creating a potential supply squeeze despite mixed technical signals and relative weakness against Bitcoin.

The US Securities and Exchange Commission on Thursday approved part of an application for a novel exchange-traded fund that would track the two largest cryptocurrencies.

The Securities and Exchange Commission has approved part of an application by Bitwise Asset Management for a combined bitcoin (BTC-USD) and ether (ETH-USD) exchange-traded fund. The proposed Bitwise Bitcoin and Ethereum ETF will hold both spot bitcoin (BTC-USD) and spot ether (ETH-USD) weighted according to their market capitalizations,

The SEC has expedited the approval of Bitwise's combined $BTC and $ETH ETF, marking a stark contrast from the Gensler SEC's waiting period for approving similar offerings.

The US Securities and Exchange Commission (SEC) has approved a key part of an application for a new exchange-traded fund (ETF) that would track Bitcoin and Ethereum, the two largest cryptocurrencies.