SEC Approves Second U.S. Crypto Index ETP: Bitwise BITW Gets Green Light

The U.S. Securities and Exchange Commission (SEC) has approved the second-ever cryptocurrency index Exchange-Traded Product (ETP) for trading in the United States. This landmark decision grants clearance for the Bitwise Bitcoin and Ether Equal Weight Strategy ETP, which will trade under the ticker BITW. This approval marks a significant regulatory milestone, following the earlier approval of spot Bitcoin ETFs, and signals growing institutional acceptance for diversified crypto investment vehicles. The BITW product offers investors exposure to a balanced portfolio of Bitcoin (BTC) and Ethereum (ETH), simplifying access to the two largest cryptocurrencies through a traditional brokerage account. Analysts view this development as a bullish step for the crypto asset class, potentially paving the way for more complex and diversified crypto-based financial products in the regulated U.S. market.