The 19b-4 Filing for the Bitwise Bitcoin and Ethereum ETP to launch on NYSE Arca has been lodged with the US SEC.
Bitwise Asset Management, a leading crypto asset manager with over $11 billion in assets under management, has made a significant move. Earlier today, the crypto asset manager revealed that NYSE Arca had submitted its 19b-4 filing.
This new filing combines the world’s top two cryptocurrencies, Bitcoin and Ethereum, into one easy-to-access fund. If approved, this exchange-traded product (ETP) will provide investors with a simplified way to invest in Bitcoin and Ethereum, the two leading assets driving the digital revolution.
Bitwise Filed A New ETP with Dual Crypto Exposure
Bitwise’s ETP will offer exposure to Bitcoin and Ethereum, which make up 70% of the $3.2 trillion crypto market. The product will directly hold both assets, weighted by their market values.
The ETP can launch once the U.S. Securities and Exchange Commission (SEC) approves Form 19b-4 and declares Form S-1 effective. This will allow investors to access Bitcoin and Ethereum through a single investment easily.
Bitcoin, the first digital asset, is a digital store of value akin to gold. Ethereum, on the other hand, powers the Ethereum blockchain. The network hosts real-world applications such as Decentralized Finance (DeFi), NFTs, and stablecoins.
Matt Hougan, Chief Investment Officer at Bitwise, highlighted how the underlying assets complement each other.
He mentioned that Bitcoin and Ethereum are not competitors. He explained that Bitwise often recommends investors hold both of these assets. This ETP simplifies that by combining them into one balanced investment option.
Bitwise’s Expansion and Achievements
The filing for the Bitcoin-Ethereum ETP is just the latest in a series of bold moves by Bitwise in 2024.
Earlier this year, the company launched separate Ethereum and spot Bitcoin Exchange Traded Funds (ETFs). These digital investment products have accumulated $4.2 billion in assets.
In addition, Bitwise expanded its footprint by acquiring European crypto asset manager ETC Group. It also purchased Attestant, an institutional staking provider, which further solidified its position as a leading crypto investment firm.
Bitwise’s diversified approach has proven successful, with several recent developments. The firm has filed for an XRP ETF and launched a staking service for the Ethereum Layer 2 blockchain Starknet.
Additionally, Bitwise is working to uplist its crypto index fund to become an ETP. The firm has also filed a 19b-4 for a spot Solana ETP. These moves are part of Bitwise’s expanding suite of investment products.
Bitwise’s portfolio of products spans more than 30 offerings in the U.S. and Europe. This includes ETPs, index funds, alpha strategies, SMA strategies, and staking solutions.
Since 2017, the firm has partnered with thousands of financial institutions and investment professionals. It has helped them access and understand the world of cryptocurrency.
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