Bloomberg analyst: The US SEC is expected to speed up the approval of more crypto ETFs, and there may be news about Litecoin soon

Odaily Planet Daily News The U.S. Securities and Exchange Commission partially approved an application for a new type of ETF on Thursday, which will track the two largest cryptocurrencies. The Bitwise Bitcoin and Ethereum ETF is a fund under Bitwise Asset Management, seeking to provide investors with balanced exposure to the two digital assets weighted by market value. The structure of the fund will be similar to existing ETFs that directly hold Bitcoin or Ethereum. U.S. regulators approved a form called 19b-4 in a document, which is a step in the entire process of allowing the product to begin trading. Bitwise Fund's registration application S-1 still needs to be approved, and both steps need to be completed before trading can begin. Trump, who is considered cryptocurrency-friendly, was elected in the U.S. presidential election last November. After the election, Bitwise submitted application documents for the joint fund to regulators. In this regard, Eric Balchunas, senior ETF analyst at Bloomberg, published an analysis on the X platform, saying that the SEC's move was expected, and even Gary Gensler would approve the Bitwise Bitcoin and Ethereum ETFs, but this move may be interpreted as the SEC will speed up the approval of cryptocurrency ETFs, and the next one may be the Litecoin ETF, and perhaps more information will be known soon.