The US Securities and Exchange Commission on Thursday approved the part of an application for a novel exchange-traded funds, which would track two largest cryptocurrency.
Bittwais Bitcoin and Atherium ETF investors want to provide a balanced exposure to two digital assets weighted by their market capitalization. The structure of the fund will be similar to the existing ETF that catches bitcoin or ether directly.
US regulator in Admission Approved the so -called Form 19 B -4, a step in the overall process that would allow the product to start trading. Bitwiz funds still require approval for their pending registration application, which is known as S -1 -is required to start trading to the stages.
Bitwaiz conducted paperwork for joint funds to the regulators last November after the US presidential election, which launched the crypto-friendly administration of President Donald Trump. Republican has promised to implement support for the digital-asset sector as part of a scheme to make the US a world’s Crypto capital.
Investment firms are now paper to SEC with proposals to start more crypto portfolio. Bloomberg Intelligence Senior Government Analyst Nathan Dean wrote in a note, “Memcoin is checking SEC boundaries, with unique filing including ETF.
For example, Bitwaiz has proposed an ETF that will track Dogcoin. This cryptosate is an architePal memecoin – a type of token with no underlying value, priced at wax and social media under the Capricorn Spotlight.
The SEC has also received applications for ETFs tracking the choice of XRP, Solana and Litcoin, tokens, which claim to be ground in any kind of utility.
The US ETF, which directly invested in bitcoin, rolled out at the beginning of 2024 and proved to be a major success, given the role of the biggest cryptocurrency-as a modern day shop of the disputed-value. A group of a dozen products, including Bitwaiz, have collected a total assets of more than $ 121 billion (about Rs 10,47,573 crore). The ether fund was followed and the fund under management exceeds $ 11 billion (about Rs 95,233 crore).
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