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 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,

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 Bitwise Bitcoin and Ethereum ETF from Bitwise Asset Management would seek to provide investors with a balanced exposure to the two digital assets, weighted by their market capitalization. The structure of the fund will be similar to existing ETFs that hold either Bitcoin or Ether directly.

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.