The US Securities and Exchange Commission on Thursday approved part of an application for a novel exchange-traded fund that would track the two largest cryptocurrencies.

The SEC has expedited the approval of Bitwise's combined $BTC and $ETH ETF, marking a stark contrast from the Gensler SEC's waiting period for approving similar offerings.

The SEC's “accelerated approval” grants NYSE Arca to list and trade shares of the hybrid Bitwise's Bitcoin and Ethereum fund.

The US Securities and Exchange Commission (SEC) has approved a key part of an application for a new exchange-traded fund (ETF) that would track Bitcoin and Ethereum, the two largest cryptocurrencies.