The US Securities and Exchange Commission (SEC) asks the public’s advice on the new Exchange-Traded Product (ETP) of Crypto Firmwise.
In a new application, the regulatory body says that the comments of the public is looking for the new Exchange-Traded Fund (ETF) of Bitwise, which would contain a combination of Bitcoin (BTC) and Ethereum (ETH), to apply it to promote.
“Interested persons are invited to submit written data, views and arguments with regard to the foregoing, including whether the proposed change of rule is consistent with the [law]. ”
In a thread on the social media platform X, BitWise stated his goal with the double ETP to simultaneously give traders access to the two largest digital assets per market capitalization.
“Nyse Arca has submitted to mention a bitwise ETP that would contain both Spot Bitcoin and Ether, weighed by market capitalization. The goal: give investors a balanced exposure to the two largest crypto assets in the world in an easily accessible size. “
Spot -SteTf’s enable investors to expose themselves to specific assets, such as precious metals or crypto, without actually having to buy.
In the submission, the SEC notes that the new ETP “will work in the same way in the same way as the Bitcoin ETPs and Spot Ether ETPs that were previously approved by the Commission.”
BitWise first announced his plan to launch a BTC and ETH ETF in November when it submitted an S-1 registration statement to the SEC.
BTC and ETH act for $ 100,786 and $ 3,890 respectively at the time of writing.
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