#BTC##ETH##MAGA#Bitwise's Crypto Duo: SEC Gives Nod to Bitcoin-Ethereum ETF

The US Securities and Exchange Commission (SEC) has just thrown a lifeline to Bitwise Asset Management, greenlighting their ambitious plan to launch an exchange-traded fund (ETF) tracking both Bitcoin and Ethereum.

This isn't a full victory yet. The SEC has merely approved their Form 19b-4, a crucial first step on the regulatory rollercoaster. The real hurdle lies ahead: the SEC still needs to bless their Form S-1 registration application before this "crypto duo" ETF can hit the trading floor.

So, what's the big deal? This ETF aims to offer investors a single, convenient entry point into the dynamic world of crypto, mirroring the market capitalization of Bitcoin and Ethereum. At the time of filing, this meant an 83/17 split in favor of the reigning crypto king, Bitcoin.

The fund will cleverly calculate the market cap of these digital titans by multiplying their respective prices with their circulating supply.

This move comes hot on the heels of a new crypto-friendly acting chair taking the reins at the SEC. Interestingly, Bitwise submitted their application back in November, a move that arguably benefited from the changing tides of the crypto landscape