As a seasoned investor with decades of experience in traditional markets and a keen eye for emerging opportunities, this latest development from NYSE Arca and Bitwise Asset Management has piqued my interest significantly. Having witnessed the meteoric rise of Bitcoin and Ethereum, I’ve long been intrigued by their potential as part of a diversified portfolio.
NYSE Arca, a significant American stock exchange, has submitted an application (19b-4) for Bitwise Asset Management’s Bitcoin and Ethereum ETP products to be listed on their platform. Being a manager of $11 billion in investment funds, this move will strengthen NYSE Arca’s position within the cryptocurrency market.
The Bitwise Bitcoin and Ethereum ETP
As per the formal declaration, the ETP is designed to incorporate Bitcoin and Ethereum in proportions that reflect their market capitalizations. In simpler terms, this means that the fund will own varying amounts of Bitcoin and Ethereum based on their respective market values, thereby offering investors a well-balanced investment exposure to both assets.
According to the records, the Form 19b-4 and S-1 registration statements have been submitted for Bitwise’s ETP proposal to be reviewed by the U.S. Securities and Exchange Commission (SEC). Notably, Bitwise is a rapidly expanding issuer of Crypto Exchange-Traded Funds (ETFs) in the market. Recently, they surpassed $10 billion in Assets Under Management (AUM), with an additional $1 billion added within just 10 days.
This is a breaking story, please check back for updates!!!
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2024-11-26 22:53