Industry analysts suggest that crypto index ETFs are becoming a focal point for issuers, following the successful launches of Bitcoin and Ethereum funds earlier in 2024.

As these developments unfold, President-elect Donald Trump is preparing to appoint pro-crypto leaders to regulatory positions starting January 20, 2025, aiming to position the U.S. as the 'world's crypto capital.'

Current SEC Chair Gary Gensler, known for his strict regulatory stance on cryptocurrencies, is expected to step down on the first day of Trump's term, potentially signaling a shift in regulatory attitudes.

The SEC's request for feedback on new financial products, including the Bitwise ETF, is a crucial step that could open up new investment opportunities in the cryptocurrency market.

This ETF is designed to give investors balanced exposure to Bitcoin (BTC) and Ethereum (ETH), the two largest cryptocurrencies, in a more accessible format.

Katalin Tischhauser, head of investment research at Sygnum, highlighted the efficiency of index ETFs for investors, comparing them to traditional index funds like the S&P 500.

On November 27, 2024, the New York Stock Exchange (NYSE) filed to list the Bitwise 10 Crypto Index Fund, which aims to provide a broader range of cryptocurrency assets.

The U.S. Securities and Exchange Commission (SEC) is currently advancing NYSE Arca's request to list the Bitwise Bitcoin and Ethereum ETF, actively seeking industry feedback on the application.

The growing interest in index ETFs is seen as a significant development in the cryptocurrency market, similar to how traditional investors engage with the S&P 500.

Gensler has overseen over 100 regulatory actions against crypto firms since 2021, and his departure may lead to a more favorable environment for cryptocurrency innovation.

In addition to Bitwise's filing, other notable proposals include Grayscale's Digital Large Cap Fund and plans from asset managers Hashdex and Franklin Templeton, reflecting a growing interest in diverse crypto investment products.