Bitwise’s ETF submission to SEC: Bitwise officially submitted an ETF application combining Bitcoin (BTC) and Ether (ETH) to the U.S. Securities and Exchange Commission (SEC). If approved, this trading product will operate on NYSE Arca. The goal of the ETF is to offer investors exposure to BTC and ETH based on their market capitalization, simplifying the cryptocurrency trading process.

SEC’s stance change in 2024: By 2024, the SEC had significantly changed, approving the first Bitcoin and Ether ETFs. However, the cryptocurrency regulatory landscape remains unclear, especially as SEC Chairman Gary Gensler is expected to step down at the end of his term. The potential change in SEC leadership may bring more crypto-friendly policies.

Impact from the US election: The election has helped the Republican Party gain control of Congress, which could lead to positive changes for the cryptocurrency industry. President-elect Donald Trump supports digital assets, which could result in favorable legislative advancements. Bitwise hopes its combined ETF will meet market demand and provide a more accessible investment option.

SEC approval pressure: Since the election, the SEC has faced pressure to approve a broader range of ETFs, such as Solana. Bitwise’s application follows other ETF submissions, demonstrating a determination to expand products to keep pace with regulatory adjustments. Bitwise’s Bitcoin-Ether ETF could pave the way for other multi-asset investment products in the crypto industry.