The U.S. Securities and Exchange Commission (SEC) announced on June 10, 2025, that it has initiated procedures to review NYSE Arca's submission for listing the Bitwise Bitcoin and Ethereum ETF. This innovative ETF is designed to hold both Bitcoin (BTC) and Ethereum (ETH), with asset allocation weighted by their relative market capitalizations (currently ~83% BTC and 17% ETH).
Key Features of the Bitwise ETF
- Dual-Asset Exposure: First ETF to combine Bitcoin and Ethereum in a single fund
- Institutional-Grade Custody: Digital assets held by Coinbase Custody Trust Company
- Transparent Pricing: NAV calculated using CME CF Bitcoin-Ethereium Benchmark Rates
- Creation/Redemption: Authorized Participants can process transactions in 10,000-share blocks
Market Context
The crypto ETF landscape continues evolving as institutional adoption accelerates. This hybrid approach offers investors:
- Diversification across two leading cryptocurrencies
- Simplified regulatory compliance compared to direct holdings
- Professional asset management by Bitwise Investment Advisers
FAQ: Understanding the Bitwise ETF
Q: How does this differ from previous Bitcoin-only ETFs?
A: This represents the first major ETF combining both BTC and ETH, reflecting growing recognition of Ethereum's institutional appeal.
Q: What are the tax implications?
A: Like other crypto ETFs, it follows standard capital gains tax rules—consult a tax professional for specifics.
Q: When might trading begin?
A: The SEC's review process typically takes 45-90 days, suggesting potential Q3 2025 launch if approved.
👉 Track real-time Bitcoin ETF performance metrics
Broader Financial Market Update
While crypto markets advance, traditional markets show mixed signals:
- USD/JPY: -9% YTD through June 2025
- U.S. Equities: S&P 500 (+0.83%) and Nasdaq (+1.02%) hit record highs
- Gold: Surged $20 to $3,345/oz amid economic uncertainty
Bitcoin Price Action
BTC briefly surpassed $110,000 amid bullish momentum, though technical analysts caution about potential near-term consolidation. The asset remains ~8% below its $120,000 ATH recorded earlier this year.
👉 Compare crypto ETF options and liquidity profiles
Regulatory Outlook
The SEC's careful approach reflects ongoing efforts to balance:
- Investor protection
- Market innovation
- Systemic risk concerns
Industry observers note this application could set precedents for future multi-asset crypto financial products.