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SEC launches review of Bitwise mixed ETF application: plans to hold both Bitcoin and Ethereum simultaneously.
On June 10, according to an official announcement, the US Securities and Exchange Commission (SEC) today announced the initiation of procedures to review the listing application for the Bitwise Bitcoin and Ethereum mixed ETF submitted by the NYSE Arca exchange.
The ETF plans to hold both Bitcoin and Ethereum, with asset allocation based on the relative market values of the two cryptocurrencies (currently approximately 83% Bitcoin and 17% Ethereum). The ETF will determine the daily net asset value by referencing the CME CF Bitcoin and Ethereum pricing benchmarks, and allow authorized participants to make cash subscriptions and redemptions in units of 10,000 shares.