NYSE Arca Files for Bitwise Bitcoin and Ethereum ETP

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The landscape of cryptocurrency investment products is evolving rapidly, and a major development has emerged with NYSE Arca filing to list a new exchange-traded product (ETP) from Bitwise Asset Management. This proposed ETP aims to offer investors spot exposure to both Bitcoin and Ethereum, the two largest digital assets by market capitalization, held directly within the fund and weighted according to their market size.

This move marks a significant step forward in providing diversified, regulated access to the crypto market through traditional financial channels. The filing underscores growing institutional interest in digital assets and reflects a maturing ecosystem where multi-asset crypto products are becoming a viable option for mainstream portfolios.

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A Strategic Multi-Asset Crypto Offering

Unlike single-asset spot ETPs that have gained traction since 2024, this new product introduces a balanced approach by combining Bitcoin (BTC) and Ethereum (ETH) in one vehicle. According to the filing, the ETP will hold both assets directly—meaning investors gain authentic exposure without relying on derivatives or futures contracts.

The structure leverages market-cap weighting, ensuring that the allocation between BTC and ETH reflects their relative dominance in the broader crypto economy. Given that together they represent approximately **70% of the $3.2 trillion global crypto market**, or about $2.25 trillion, this weighting offers a strategically sound method of capturing the core of the digital asset ecosystem.

Why Bitcoin and Ethereum Complement Each Other

While often grouped under the umbrella of "cryptocurrencies," Bitcoin and Ethereum serve fundamentally different roles:

“Bitcoin and ether aren’t competitors any more than gold and tech stocks are competitors,” said Matt Hougan, Chief Investment Officer at Bitwise. “So when investors ask us which is better to add to their portfolio, often our answer is ‘both.’ This fund aims to make that recommendation easy and actionable.”

This dual-asset strategy allows investors to benefit from Bitcoin’s store-of-value narrative while also participating in Ethereum’s innovation-driven growth—offering a more comprehensive entry point into the crypto market.

Bitwise’s Expanding Crypto Product Ecosystem

The NYSE Arca filing is not an isolated event but part of a broader expansion by Bitwise in 2024. The firm has positioned itself as a leader in regulated crypto investment solutions with a growing suite of products across multiple jurisdictions.

Key milestones achieved by Bitwise this year include:

Today, Bitwise offers over 30 products spanning ETPs, index funds, active strategies, and staking solutions in both the U.S. and Europe. Since its founding in 2017, the firm has served thousands of financial advisors, family offices, and institutions seeking credible access to digital assets.

Core Keywords Driving Market Interest

As investor demand for diversified crypto exposure grows, several core keywords define the relevance and search intent behind this development:

These terms reflect both technical sophistication and mainstream appeal, aligning with what advisors and retail investors alike are searching for: secure, transparent, and easy-to-access ways to invest in digital assets.

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Frequently Asked Questions (FAQ)

Q: What is a spot Bitcoin and Ethereum ETP?
A: A spot ETP holds the actual underlying assets—Bitcoin and Ethereum—rather than using futures or derivatives. This provides direct exposure to price movements of the real coins.

Q: How is the allocation between Bitcoin and Ethereum determined?
A: The ETP uses market-capitalization weighting, meaning the proportion of each asset mirrors its share of the total crypto market. As of now, Bitcoin typically represents a larger portion due to its higher market cap.

Q: Is this product approved yet?
A: No. The launch depends on regulatory approval of the Form 19b-4 filing with NYSE Arca, as well as the effectiveness of the Form S-1 registration statement with the SEC.

Q: Why combine Bitcoin and Ethereum instead of offering them separately?
A: Combining both allows investors to gain diversified exposure to two foundational but distinct crypto networks—Bitcoin as digital gold and Ethereum as a platform for innovation—reducing reliance on any single asset.

Q: Who is Bitwise Asset Management?
A: Bitwise is one of America’s largest crypto index managers, serving financial professionals and institutions since 2017. It offers a wide range of regulated crypto investment products across ETFs, SMAs, private funds, and staking solutions.

Q: Can individual investors buy this ETP once approved?
A: Yes. Once approved and listed on NYSE Arca, the ETP will be available through standard brokerage accounts, just like other exchange-traded products.

The Future of Crypto Access Through Traditional Finance

Bitwise’s latest filing signals a shift toward more sophisticated, multi-asset crypto investment vehicles that meet institutional standards while remaining accessible to retail investors. By combining spot exposure to Bitcoin and Ethereum under one ticker, the proposed ETP simplifies portfolio construction for those looking to capture the core of the digital asset economy.

With over $11 billion in client assets and strategic acquisitions enhancing its global reach, Bitwise continues to lead in bridging traditional finance with blockchain innovation. As regulatory clarity improves and product offerings expand, such developments pave the way for broader adoption across wealth management platforms.

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