The SEC has initiated a review of Bitwise's Bitcoin and Ethereum mixed ETF listing application

ChainCatcher news, according to official documents, the U.S. Securities and Exchange Commission (SEC) announced today the initiation of a procedural review of the listing application for the Bitwise Bitcoin and Ethereum Hybrid ETF submitted by the NYSE Arca exchange.

The ETF plans to hold both Bitcoin and Ethereum, with asset allocation based on the relative market capitalization of the two cryptocurrencies (currently approximately 83% Bitcoin and 17% Ethereum). The ETF will determine its daily net asset value by referencing the CME CF Bitcoin and Ethereum pricing benchmarks and will allow authorized participants to create and redeem shares in cash in increments of 10,000 shares.