BlockBeats News, June 10, according to an official announcement, the U.S. Securities and Exchange Commission (SEC) has today initiated a procedural review of the NYSE Arca exchange's listing application for the Bitwise Bitcoin and Ethereum mixed ETF.
The ETF plans to hold both Bitcoin and Ethereum simultaneously, 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 (NAV) by referencing the CME CF Bitcoin and Ethereum pricing benchmarks and will allow authorized participants to conduct cash creations and redemptions in blocks of 10,000 shares.
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