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Bitwise Proposes Crypto-Mixed Based ETF to SEC
Bitwise Asset Management, one of the leading companies to issue a Bitcoin spot ETF, has proposed a new cryptocurrency-based exchange-traded fund (ETF) to the Securities and Exchange Commission (SEC).
A New Opportunity for Investors
The proposed ETF, which is a Bitcoin-Ethereum based spot ETF, aims to provide investors with balanced exposure to the two largest cryptocurrencies by market capitalization. Bitcoin and Ethereum currently account for over 70% of the current crypto market capitalizations, with a combined value of approximately $2.2 trillion.
The goal of this new ETF is to give investors a recommended cryptocurrency to add to their portfolio. According to CIO Matt Hougan, “Bitcoin and Ethereum aren’t competitors any more than gold and tech stocks are competitors.”
A Growing Trend in the Crypto Market
Bitwise’s move to propose a crypto-mixed based ETF comes after their successful launch of Bitcoin ETF options earlier this year. The company’s Bitcoin ETF options have seen an inflow of up to $2.1 billion, making them the fourth largest issuer in the market.
Bitwise’s Ethereum spot ETF, launched in July 2024, has also seen success, with a total inflow of $390 million. While it trails behind Fidelity’s Ethereum Fund and iShares Ethereum Trust ETF in terms of inflow, it still represents a significant milestone in the crypto market.
What Does This Mean for Investors?
The proposed crypto-mixed based ETF offers investors a new opportunity to diversify their portfolios and gain exposure to the largest cryptocurrencies in the market. By investing in a single ETF, investors can gain access to both Bitcoin and Ethereum, reducing the risk associated with investing in individual cryptocurrencies.
Some key benefits of this ETF include:
- Balanced exposure to Bitcoin and Ethereum, the two largest cryptocurrencies by market capitalization
- Easier access to these cryptocurrencies for investors
- Reduced risk associated with investing in individual cryptocurrencies
- Opportunity to diversify portfolios and gain exposure to a wide range of assets
As the crypto market continues to evolve, it’s essential for investors to stay informed about the latest developments and trends. For more news and updates on the crypto market, visit Global Crypto News.
