Will SEC Approve 10 Crypto ETF Filing By Bitwise?
Bitwise is once again in the spotlight, and this time, they’re aiming high. they proposed a 10 Cryptocurrency Index ETFs For the SEC, this could shake up the world of cryptocurrency investing. But let’s not get ahead of ourselves – things are not set in stone yet. Still, it’s worth taking a look at its internals and why this ETF is important.
What’s inside the fund?
Okay, here’s the summary. This ETF is not just a Bitcoin-focused fund (although Bitcoin does dominate with a 75.14% share). It includes ten cryptocurrencies, with a mix of the most popular and some that feel a little niche. Ethereum ranks second with 16.42%, followed by Solana with 4.3%. the rest? Tokens like XRP, Cardano, Avalanche, and Uniswap—a small part, of course, but they add a layer of diversity.
To control it all, Bitwise brought in some big players. Coinbase Custody will handle crypto assets, while BNY Mellon will handle the cash side and administrative tasks. Daily pricing comes from CF Benchmarks, ensuring investors receive accurate valuations. Sounds solid, right?
A game bigger than Bitcoin
Bitwise doesn’t just drop random coins into the fund. They are looking beyond Bitcoin and Ethereum to show that they are serious about covering a wider market. Just last week, they applied for Bitcoin and Ethereum ETPs through NYSE Arca. They also invested in the Solana ETF, which feels like a sign of growing confidence in altcoins.
There’s also a big time factor here. and Gary Gensler After resigning as SEC chairman, the crypto world is abuzz. Many believe his exit could signal a more friendly stance toward crypto ETFs. This is good news for companies like Bitwise that are counting on wider approval.
what to expect
So, will the SEC say yes? No one knows for sure. But if this ETF is approved, it could lay the groundwork for more similar funds and could even push cryptocurrency investing closer to the mainstream. But for now, it’s a waiting game. Investors have to hang in there and hope this is the start of bigger things.
