Bitwise Asset Management, a leading crypto asset manager overseeing $11 billion in client assets, announced today that NYSE Arca has submitted a filing to list a groundbreaking Bitwise ETP offering combined exposure to spot Bitcoin and Ethereum, weighted by market capitalization. According to the filing, the ETP will hold both assets directly.
Key Details
- Regulatory Process: The product’s launch hinges on SEC approval of the Form 19b-4 filing and the effectiveness of the Form S-1 registration statement.
- Market Significance: Bitcoin and Ethereum dominate the crypto market, representing 70% ($2.25 trillion) of the $3.2 trillion global crypto asset market cap.
Why Bitcoin and Ethereum?
Bitcoin
- Positioned as a digital store of value with a blockchain optimized for security.
- Functions similarly to "digital gold" in portfolios.
Ethereum
- Powers the Ethereum blockchain, enabling transformative use cases like DeFi, NFTs, and tokenization.
- Acts as the backbone for decentralized applications (dApps).
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Bitwise CIO’s Perspective
Matt Hougan, Bitwise’s Chief Investment Officer, emphasized:
"Bitcoin and Ethereum aren’t competitors—they serve different roles, much like gold and tech stocks. This ETP simplifies diversified crypto exposure, making it actionable for investors."
Bitwise’s 2024 Milestones
Bitwise has solidified its leadership in crypto asset management this year through:
| Initiative | Impact |
|-------------------------------------|---------------------------------------|
| Spot Bitcoin & Ethereum ETPs | $4.2 billion in assets under management |
| Acquisition of ETC Group & Attestant| Expanded European and staking services |
| XRP ETP Filing | Pending regulatory approval |
| Aptos Staking ETP (Europe) | New staking revenue stream |
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FAQs
1. What makes this ETP unique?
It’s the first to offer dual exposure to Bitcoin and Ethereum in a single product, weighted by market cap.
2. When will the ETP launch?
Pending SEC approval of the 19b-4 and S-1 filings—timelines vary based on regulatory review.
3. How does Bitwise ensure asset security?
Bitwise uses institutional-grade custody solutions for direct asset holdings.
4. Why invest in both Bitcoin and Ethereum?
Their uncorrelated returns and distinct use cases enhance portfolio diversification.
5. What other products does Bitwise offer?
A suite of 30+ products, including index funds, staking services, and SMA strategies across the U.S. and Europe.
About Bitwise
Bitwise is America’s largest crypto index fund manager, trusted by financial advisors and institutions since 2017. With 90+ professionals and offices in San Francisco, New York, and London, Bitwise combines asset management expertise with deep crypto ecosystem access.