SEC Accelerates Crypto ETF Approvals: Could Dogecoin & Litecoin Be Next?

SEC Approves Bitwise Bitcoin and Ether ETF

The Securities and Exchange Commission (SEC) has granted initial approval for Bitwise's exchange-traded fund (ETF) tracking Bitcoin and Ether. The accelerated approval allows NYSE Arca to list and trade shares of the hybrid fund.

SEC Review and Approval

The SEC determined that the ETF aligns with the Exchange Act and relevant regulations. It meets requirements designed to prevent fraudulent and manipulative practices in the market.

Increasing Institutional Interest

Amid growing interest in crypto investment vehicles, asset managers have filed multiple ETF applications. These include ETFs tracking Dogecoin and Litecoin.

Accelerated Approval Process

The SEC's expedited approval process for Bitwise's ETF has garnered attention. While approval was anticipated, the timeline was significantly shorter than the typical 240 days, taking only 45 days.

S-1 Registration Pending

Despite initial approval, the ETF requires SEC clearance for its S-1 registration before trading can commence. Bloomberg senior analyst Eric Balchunas suggests that Litecoin ETFs may be next in line for approval.