ProShares and Bitwise Apply for Bitcoin and Ether ETFs with the SEC
ProShares and Bitwise have both submitted applications to the U.S. Securities and Exchange Commission (SEC) for exchange-traded funds (ETFs) that would offer exposure to bitcoin and ether. ProShares’ filing is for a Bitcoin and Ether Equal Weight Strategy ETF, while Bitwise’s filing is for a Bitcoin and Ether Market Weight ETF. ProShares already has several crypto-related funds, including a bitcoin futures ETF, and has also applied for a metaverse-focused ETF. Bloomberg analyst James Seyffart also noted that Bitwise has filed for an equal weight version of its dual bitcoin and ether futures ETF. The crypto industry has been eagerly anticipating the approval of a spot bitcoin ETF, with the SEC currently only approving derivative-tied bitcoin futures ETFs.
– ProShares and Bitwise have submitted applications for bitcoin and ether ETFs with the SEC.
– ProShares’ filing is for an equal weight strategy ETF, while Bitwise’s filing is for a market weight ETF.
– ProShares already has crypto-related funds and has applied for a metaverse-focused ETF.
– Bitwise has also filed for an equal weight version of its dual bitcoin and ether futures ETF.
– The SEC has only approved derivative-tied bitcoin futures ETFs so far.
Hot Take: The Race for Bitcoin and Ether ETFs Continues
The applications by ProShares and Bitwise for bitcoin and ether ETFs demonstrate the continued interest and demand for these investment vehicles. As the crypto industry evolves and matures, more and more companies are seeking to provide mainstream investors with easy access to digital assets. While the SEC has been cautious in approving spot bitcoin ETFs, the growing number of filings suggests that the market is pushing for these products. If approved, bitcoin and ether ETFs could open the doors to a wider range of investors and potentially increase liquidity in the crypto market.
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