NYSE Arca Files For Bitcoin And Ether ETF Listing

According to Cointelegraph, NYSE Arca has submitted a filing to the United States Securities and Exchange Commission (SEC) to list and trade shares of an exchange-traded product (ETP) from Bitwise Asset Management. This ETP aims to provide investors with exposure to Bitcoin (BTC) and Ether (ETH) in a straightforward format. The filing, dated November 26, outlines Bitwise's intention to launch this spot Bitcoin and Ether ETP on NYSE Arca, with the registration statement filed under Form S-1. The asset management firm stated that the ETP would offer balanced exposure to the two largest cryptocurrencies by market capitalization. However, the filing does not specify an exact date for the public offering, only indicating that it would occur "as soon as practicable after the effective date" of the Form S-1. Bitwise plans for the ETP's holdings to reflect the relative market capitalization of Bitcoin and Ether. The SEC's decision on whether to approve this crypto product for listing and trading remains uncertain. The regulatory body is expected to undergo leadership changes, with Chair Gary Gensler set to resign on January 20. The US Senate may confirm a new SEC head nominated by President-elect Donald Trump after he assumes office. This leadership transition has led to speculation about a potentially more crypto-friendly regulatory environment, as Republicans have secured majority control of both the House of Representatives and the Senate following the November 5 election. In the wake of the election, several asset managers have proposed new ETFs linked to cryptocurrencies such as Hedera (HBAR), XRP (XRP), and Solana (SOL), possibly to gauge the SEC's stance on various crypto offerings. Notably, Bitwise filed an S-1 registration for a spot Solana ETF on November 21. Earlier in the year, the SEC approved the first spot BTC ETF offerings for listing and trading on US exchanges in January, followed by the approval of spot Ether exchange-traded products in May.