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The headquarters of the US Securities and Exchange Commission is seen in Washington, DC, on January 28.

Saul Loeb/AFP/Getty Photographs

The headquarters of the US Securities and Trade Fee is seen in Washington, DC, on January 28.

The Securities and Exchange Commission has however to approve any trade-traded cash that own only bitcoin and other cryptocurrencies, while quite a few best corporations — including Fidelity, VanEck, Anthony Scaramucci’s SkyBridge and Bitwise — have used to sign up this kind of money.

But Bitwise introduced Wednesday that another of its money, the Bitwise Crypto Business Innovators ETF, has been given the SEC go-ahead. It will trade under the ticker image “BITQ.”

That’s mainly because it invests not in bitcoin straight, but instead in an index of so-termed “picks and shovels” organizations that have businesses tied to bitcoin (XBT) and other cryptos like ethereum and, certainly, dogecoin.

So no, the new Bitwise fund is not not the prolonged-awaited initial bitcoin ETF — but it’s substantial simply because it’s the initial ETF to have crypto in its name.

(There are quite a few other blockchain-themed ETFs but they have names that do not scream crypto, this sort of as the Amplify Transformational Knowledge Sharing ETF (BLOK).)

The Bitwise fund’s holdings will contain recently public Coinbase (COIN), payments giants Square (SQ) and PayPal (PYPL), bitcoin bank Silvergate (SI) and Galaxy Electronic (BRPHF), the cryptocurrency investing firm run by bitcoin bull Mike Novogratz.

Bitwise Asset Management CEO Hunter Horsley said he’s hopeful the SEC is closer to last but not least approving an real bitcoin ETF that owns electronic cash. Right after all, the Winklevoss twins of Fb fame to start with submitted for one particular (that was turned down) way back again in 2013.

“The bitcoin ETF journey has been pretty much a 10 years lengthy,” Horsley said. “But I feel it will be feasible. This is a big milestone for us.”