US spot Bitcoin ETFs saw inflows totaling nearly $5 billion in January, a strong start that could push them toward $50 billion by year end.

Bitcoin ETFs could be on track to notch net inflows of over $50 billion this year after they took in nearly $5 billion over January, says Bitwise chief investment officer Matt Hougan.

The U.S. Securities and Exchange Commission (SEC) has granted approval for Bitwise’s combined Bitcoin and Ethereum exchange-traded fund (ETF) on an accelerated basis.

The Securities and Exchange Commission has approved part of an application by Bitwise Asset Management for a combined bitcoin (BTC-USD) and ether (ETH-USD) exchange-traded fund. The proposed Bitwise Bitcoin and Ethereum ETF will hold both spot bitcoin (BTC-USD) and spot ether (ETH-USD) weighted according to their market capitalizations,

Bitwise submitted the application for the dual crypto ETF in November, shortly after the US presidential election.

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.