As a seasoned crypto investor with over a decade of experience navigating the digital asset market, I find the recent developments surrounding the Bitwise ETF and the increasing competition in the index ETF space to be an exciting turn of events. Having witnessed the volatility and potential of the crypto market firsthand, it is heartening to see regulatory bodies like the SEC taking steps towards facilitating easier access for mainstream investors.
The United States Securities and Exchange Commission (SEC) has advanced in considering NYSE Arca’s proposal to list the Bitwise Bitcoin and Ethereum ETF, and they are currently inviting opinions from the financial industry regarding this application.
The Bitwise ETF is a fund that holds real Bitcoin and Ethereum and it aims to give investors “balanced exposure to the two largest crypto assets in the world in an easy-to-access format,” according to Bitwise in a Nov. 26 filing.
As the rivalry in the crypto index ETF market intensifies, analysts anticipate that index ETFs will become a primary area of focus for issuers following the successful launch of Bitcoin and Ethereum-holding funds earlier this year.
Katalin Tischhauser, who leads investment research at crypto bank Sygnum, believes that the next progression could involve Exchange-Traded Funds (ETFs) based on indices. She explains that these types of investments are beneficial for investors, much like how people invest in the S&P 500 through an ETF. In essence, she suggests that this same concept will apply to the crypto market as well.
On November 27th, NYSE Arca filed another request for listing the Bitwise 10 Crypto Index Fund, encompassing a broader range of cryptocurrencies. Additionally, they submitted an application on October 29th to list Grayscale’s proposed Digital Large Cap Fund.
Additionally, other investment firms like Hashdex and Franklin Templeton are entering the competition by proposing cryptocurrency index fund offerings.
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2024-12-12 00:37