SEC Approves, Immediately Pauses Bitwise's Bid to Convert BITW Crypto Index Fund to ETF

SEC Halts Approval of Bitwise ETF Offering Broad Crypto Exposure

A key US regulator halted the approval process for a new cryptocurrency exchange-traded fund just hours after initially signing off, in a setback for digital-asset proponents hoping for easy-to-trade funds that expand access to more tokens.

SEC Hits Pause After Approving Bitwise Crypto ETF Conversion

The U.S. Securities and Exchange Commission (SEC) initially approved the conversion of Bitwise Asset Management’s 10 Crypto Index Fund (BITW) into a spot exchange-traded fund (ETF) on Tuesday, but quickly issued a stay order, pausing the process for a full commission review. The Bitwise 10 Crypto Index Fund currently offers exposure to a basket of major digital assets weighted by market cap. The fund holds roughly 90% of its assets in BTC and ET…

SEC Approves, Immediately Pauses Bitwise's Bid to Convert BITW Crypto Index Fund to ETF

The Securities and Exchange Commission approved — then abruptly paused — Bitwise’s plan to convert its Bitwise 10 Crypto Index Fund (BITW) into a spot exchange-traded fund (ETF) on Tuesday, raising fresh uncertainty around the agency’s standards for crypto ETFs.The fund holds 90% of its weight in bitcoin (BTC) and ether (ETH), with the remainder spread across Solana (SOL), XRP, Cardano (ADA), Avalanche (AVAX), Chainlink (LINK), Bitcoin Cash (BCH…

U.S. Securities and Exchange Commission (SEC) Approves Then Pauses Bitwise ETF Offering Wide Crypto Exposure - The Daily Hodl

The top securities regulator in the US is pausing Bitwise’s plan to convert its Bitwise 10 Crypto Index Fund (BITW) into a spot exchange-traded fund (ETF) almost immediately after approving it. Two days ago, the U.S. Securities and Exchange Commission (SEC) gave an “accelerated” approval of Bitwise’s proposal to convert BITW to a spot ETF. “Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘Exchange Act’) and Rule 19b-4 thereu…

SEC Greenlights Spot XRP And Altcoin ETF—Then Freezes It

The US Securities and Exchange Commission (SEC) on 22 July granted accelerated approval for NYSE Arca to list the Bitwise 10 Crypto Index ETF, a multi-asset product whose underlying portfolio includes XRP, Solana, Cardano and seven other digital assets alongside Bitcoin and Ether. The order, published as Release No. 34-103531, concluded that the proposal was “consistent with Section 6(b)(5) of the Exchange Act” because it is designed “to prevent…

SEC Hits Pause on Bitwise ETF Offering Broad Crypto Exposure – Bloomberg

The Securities and Exchange Commission's Division of Trading and Markets initially approved the Bitwise 10 Crypto Index Fund conversion to an ETF … Source link The post SEC Hits Pause on Bitwise ETF Offering Broad Crypto Exposure – Bloomberg first appeared on Crypto News Wire.