S-1 registration for crypto ETF: Bitwise officially filed an S-1 registration with the U.S. Securities and Exchange Commission (SEC) on November 26. This application aims to launch a new exchange-traded product (ETF) that combines Bitcoin and Ether on the NYSE Arca exchange. This move marks an important development for Bitwise in promoting the approval of spot crypto ETFs.

Impact of the 2024 U.S. election: Following the 2024 U.S. election, there have been many changes in the leadership structure of the SEC, especially with Chairman Gary Gensler’s resignation. The SEC will have new leadership nominated by President-elect Donald Trump. This change increases the likelihood that the regulatory environment for cryptocurrency products could become more favorable.

Uncertainty regarding the SEC decision: Currently, it is still unclear how the SEC will view Bitwise’s proposal for a Bitcoin and Ether combined ETF. Nevertheless, there are signs that more favorable measures for the cryptocurrency market could emerge once the new SEC leadership is determined.