The U.S. Securities and Exchange Commission (SEC) has expedited the approval process for the Bitwise Bitcoin and Ethereum ETF, allowing it to be listed on NYSE Arca. This hybrid ETF will provide direct exposure to Bitcoin (BTC) and Ethereum (ETH), with 83% allocated to Bitcoin and 17% to Ethereum, using Coinbase's custody services for asset management. Experts interpret this swift approval as a sign of a more industry-friendly SEC under the current administration. The approval comes amidst a broader trend of clearing crypto investment products, indicating a growing acceptance of digital assets. The fund's net asset value will be calculated daily at 4:00 p.m. ET, and Bitwise has been expanding its crypto-based offerings, including recent applications for more diverse investment products. The ETF's approval involves compliance checks related to investor protection requirements before trading commences. As of now, Bitcoin has seen a slight decline, while Ethereum has experienced modest gains, reflecting the market's dynamic nature.

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