Key dealers
- SEC has approved the transformation of Bitwise 10 Crypto Index Fund to an ETF.
- The new ETF will provide exposure to ten major crypto assets: Bitcoin, Ethereum, XRP, Solana, Cardano, SUI, Chainlink, Avalanche, Litecoin and Polkadot.
The US Securities and Exchange Commission has approved Bitwise’s request to convert its 10 crypto index fund to a full -fledged ETF, which allows investors to get exposure to a diversified basket with digital assets including Bitcoin, Ethereum, XRP and Solana.
According to FileETF will also include Cardano, SUI, ChainLink, Avalanche, Litecoin and Polkadot. The move marks one of the widest crypto-ETF approvals in the US market so far and signals growing legislation against include cryptob-based investment products.
Bitwise currently handles approximately $ 5.79 billion in assets over its 12 crypto -etfs. The flagship site Bitcoin ETF holds approximately $ 4.79 billion and its Etherum etf Adds $ 431 million to net assets.
When Washington warms up to Crypto, industry supervisors expect a wave of new ETF approvals. Bloomberg ETF -Analyst James Seyffart mentioned In June, he now sets 95% approval odds at ETFS for XRP, Litecoin and Solana. He added that Cardano, Polkadot, Hbar, Avalanche and even Dogecoin have a 90% probability of approval in the coming months.
