Bitwise Asset Management has submitted a proposal for a Bitcoin-Ethereum combined spot ETF to the SEC after Bitcoin ETF's success.
Author: Sahil Thakur
Bitwise Asset Management has submitted a proposal for a Bitcoin-Ethereum combined spot ETF to the SEC. This move follows Bitwise’s success with its Bitcoin spot ETF earlier this year and its recent launch of Bitcoin ETF options. The new proposal aims to balance exposure between Bitcoin and Ethereum, the two largest cryptocurrencies by market capitalization.
The proposed ETF seeks to provide investors with simplified exposure to Bitcoin and Ethereum. Bitwise’s Chief Investment Officer Matt Hougan stated, “Bitcoin and Ethereum aren’t competitors any more than gold and tech stocks are competitors.” The fund aims to offer investors a strategic blend of these leading assets to enhance portfolio diversification.
Bitwise has been an active player in the ETF space. In July 2024, the firm launched an Ethereum spot ETF (ETHW) on the New York Stock Exchange. ETHW has since gathered $390 million in inflows, trailing BlackRock and Fidelity’s Ethereum ETFs.
The new proposal aligns with Bitwise’s broader strategy to meet growing demand for diversified crypto investment products. Approval of this ETF would mark another milestone in expanding access to digital assets for institutional and retail investors.
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