The SEC fast-tracked approval for Bitwise's ETF based on its compliance with investor protection rules requiring exchanges to "prevent fraudulent and manipulative acts" and "protect investors and the public interest.”

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In particular, the Commission finds that the Proposal is consistent with Section 6(b)(5) of the Exchange Act, which requires, among other things, that the Exchange’s rules be designed to 'prevent fraudulent and manipulative acts and practices' and, 'in general, to protect investors and the public interest
The SEC announced it had granted accelerated approval to Bitwise's Bitcoin and Ethereum ETF, just over a month after approving similar products filed by Hashdex and Franklin Templeton