Asset manager Bitwise has filed with the US Securities and Exchange Commission (SEC) an application to launch trading for a spot Bitcoin and Ether ETF on the NYSE Arca.
The product will hold both Bitcoin and Ether, offering investors a balanced exposure to the two major cryptocurrencies in an easy-to-access format.
The product will be launched as soon as possible after the Form S-1 registration statement becomes effective.
The ETF's holdings will be adjusted for the relative market capitalization of Bitcoin and Ether. It is uncertain whether the SEC will approve the listing and trading of the product on NYSE Arca.
The Commission will undergo a change in leadership on January 20 with the resignation of its current chairman, Gary Gensler. The new head of the SEC proposed by President-elect Donald Trump could be confirmed by the US Senate after his inauguration.