NYSE Files to List Bitwise Bitcoin and Ethereum Mixed ETP

The New York Stock Exchange (NYSE) Arca has filed a Form 19b-4 to list a new exchange-traded product (ETP) from Bitwise that offers spot exposure to Bitcoin (BTC) and Ethereum (ETH). This innovative fund is weighted by market capitalization, providing investors with a balanced and dynamic allocation to the two leading cryptocurrencies.

According to Bitwise, the proposed Bitcoin-Ether ETP is designed to simplify portfolio management for those seeking exposure to the crypto market's most established assets. Its market-cap weighting ensures the fund adapts to changes in the relative dominance of BTC and ETH over time.

Bitwise Chief Investment Officer Matt Hougan highlighted the complementary nature of the two assets, stating:

“Bitcoin and ether aren’t competitors any more than gold and tech stocks are competitors. So when investors ask us which is better to add to their portfolio, often our answer is ‘both.’ This fund aims to make that recommendation easy and actionable, providing balanced exposure to the world’s two largest crypto assets.”

Bitwise's spot Bitcoin and Ethereum funds have already accumulated $4.2 billion in assets under management. If approved, this dual-asset ETP would be the first of its kind in the U.S. market, offering streamlined access to BTC and ETH within a single product.

Similar products, however, remain under review. The U.S. Securities and Exchange Commission (SEC) recently delayed its decision on Franklin Templeton’s Crypto Index ETF, which also tracks BTC and ETH but without market-cap weighting. Brazilian asset manager Hashdex has also proposed a comparable offering, the Hashdex Nasdaq Crypto Index US ETF.

Diverging Use Cases for BTC and ETH
Despite their dominance in the crypto market—collectively exceeding a market cap of $2.1 trillion as of November 26—Bitcoin and Ethereum serve distinct roles.

Bitcoin is widely regarded as a secure digital store of value, optimized for monetary use and long-term holding. Ethereum, on the other hand, powers the largest decentralized application ecosystem, with nearly $110 billion in total value locked (TVL) according to DefiLlama. Major financial players such as BlackRock, Visa, and Franklin Templeton have already adopted Ethereum’s infrastructure for their products.

This proposed ETP would allow investors to benefit from the strengths of both assets in a single, convenient investment vehicle.