The US SEC Initiates Review Process for Bitwise Bitcoin and Ethereum ETF Listing Application

On June 10, 2025, the U.S. Securities and Exchange Commission (SEC) announced the initiation of a review process for the Bitwise Bitcoin and Ethereum ETF listing application submitted by the NYSE Arca exchange. This ETF plans to hold both Bitcoin and Ethereum, with asset allocation based on the relative market value of the two cryptocurrencies (currently approximately 83% Bitcoin and 17% Ethereum). Bitwise Investment Advisers, LLC is the sponsor of the trust, and Custody Trust Company will be responsible for the custody of the crypto assets. The ETF will determine its daily net asset value by referencing the CME CF Bitcoin and Ethereum pricing benchmarks and will allow authorized participants to subscribe and redeem in cash in units of 10,000 shares.