The SEC has approved the creation of an ETF by Bitwise Asset Management, which will track the price of Bitcoin and Ether with a ratio of 83 percent for Bitcoin and 17 percent for Ether, with assets stored by Coinbase 💰

The SEC has approved the creation of an ETF by Bitwise Asset Management, which will track the price of Bitcoin and Ether with a ratio of 83 percent for Bitcoin and 17 percent for Ether. The fund will be managed by Bitwise Investment Advisers, the assets will be stored by Coinbase, and Bank of New York Mellon will handle treasury operations. This is the third fund combining Bitcoin and Ether, after the funds from Hashdex and Franklin Templeton. The approval came after the appointment of the new SEC chairperson, who is favorable toward cryptocurrencies.