tl;dr
BitWise has filed with the SEC to create a diversified crypto ETF based on its 10 Crypto Index Fund, potentially becoming the most extensive crypto ETF in the US. The fund would include Bitcoin, Ethereum, Solana, XRP, Cardano, and others. BitWise recently filed for a Solana ETF as well. The firm aim...
BitWise has filed an application with the SEC to create a diversified crypto ETF based on its 10 Crypto Index Fund, potentially becoming the most extensive crypto ETF in the US. The fund would include Bitcoin, Ethereum, Solana, XRP, Cardano, and others. BitWise recently filed for a Solana ETF as well, aiming to capitalize on institutional interest in the crypto market. The SEC has yet to set a deadline for approving the ETF application, but there is a growing friendliness towards the crypto industry in the US regulatory landscape.
BitWise is looking to expand its crypto ETF offerings, including Bitcoin, Ethereum, Solana, XRP, Cardano, Avalanche, Chainlink, Bitcoin Cash, Polkadot, and Uniswap in the fund. Big Pey, an influencer, shared speculation regarding ADA's price movement, linking it to someone potentially purchasing ADA for an ETF. BitWise joined the crypto ETF market earlier this year with its Bitcoin ETF (BITB) and seems poised to leverage the growing institutional appeal toward the broader crypto market with this latest filing.
The firm also recently filed for an XRP exchange-traded product (ETP) in Europe, and the SEC has officially acknowledged this submission, starting a countdown for the Commission to either reject or approve it. Overall, a new friendliness to the crypto industry is sweeping the US financial regulatory apparatus, potentially leading to the approval of more diverse ETFs.