American stock exchange outfit NYSE Arca has submitted a 19b-4 filing on behalf of Bitwise Asset Management to list combined Bitcoin and Ethereum ETP products. As an asset manager with $11 billion in managed funds, this filing will deepen the exchange’s foothold in the crypto market.
The Bitwise Bitcoin and Ethereum ETP
According to the official announcement, the ETP will contain both Bitcoin and Ethereum on a market capitalization-weighted basis. Drawing on the context of the filing, the fund will hold both BTC and ETH, giving investors a balanced exposure to both assets.
As the filing noted, the Form 19b-4 and S-1 registration statements officially places ETP request from Bitwise under consideration for approval from the US SEC. Bitwise is one of the fastest growing Crypto ETF issuers in the market. The firm crossed the $10 billion AUM – Assets Under Management earlier this month, adding another $1 billion in 10 days.
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