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Bitwise, one of the listed companies that issued a Bitcoin exchange-traded fund in January, has proposed a hybrid cryptocurrency investment fund to the authorities.
According to the S-1 filing document On November 26, Bitwise Asset management for professionalsThe Bitcoin-Ethereum-based ETF has filed with the Securities and Exchange Commission (SEC). This suggestion came after their product Bitcoin ETF Options It was approved for trade and released last week.
As the issuer of a multi-billion dollar Bitcoin ETF, the company aims to achieve balanced exposure and easy access to its clients between the two largest cryptocurrencies by market cap.
Bitcoin Ethereum represents more than 70% of the current cryptocurrency market capitalization, approximately $2.2 trillion. This fund will enable investors to have recommended cryptocurrencies in their investment portfolio. Both cryptocurrencies, the largest major blockchain used in decentralized finance, “will be a hit with investors.”
“Bitcoin and Ethereum are no more competitive than gold and competing tech stocks,” said IT Director Matt Hogan. press release.
Bitwise moves on crypto-based ETFs
Since releasing the product earlier this year, the company that issued the Bitcoin Spot ETF has recorded an inflow of $2.1 billion for its product (BITB). This influx makes it the fourth largest exporter and collects a multi-billion dollar inflow.
The San Francisco, California-based company also joined the wave of BlackRock and Fidelity to launch an Ethereum Spot ETF (ETHW) on the New York Stock Exchange in July 2024.
The total flow they have raised for ETHW now stands at $390 million Sincerity The $707 million Ethereum Fund (FETH) and the $1.8 billion iShares Ethereum Trust ETF (ETHA).
