SEC Launches Process to Review Bitwise Bitcoin and Ethereum ETF Listing Applications

The Securities Exchange Commission (SEC) announced on June 10, 2025 that it was initiating procedures to review the listing application of the Bitwise Bitcoin and Ethereum ETF submitted by the NYSE Arca exchange. The ETF plans to hold both Bitcoin and Ethereum, and the asset allocation will be based on the relative market capitalization of the two cryptocurrencies (currently around 83% Bitcoin and 17% Ethereum).
Bitwise Investment Advisers, LLC is the sponsor of the trust, and Coinbase Custody Trust Company will be responsible for custody of the crypto assets. The ETF will determine the daily net asset value by referring to the CME CF Bitcoin and Ethereum pricing benchmarks, and will allow authorized participants to make cash subscriptions and redemptions in units of 10,000 shares.