Key dealers
- SEC has extended the review period for Bitwise ETF proposal until July 31, 2025.
- The proposal aims to list and trade in Bitwise 10 Crypto Index Fund on NYSE Arca.
US Sec announced Today, it will take another 60 days to decide whether to approve a proposed rule change from NYSE ARCA to list Bitwise 10 Crypto Index Fund, which has large crypto assets such as Bitcoin, Ethereum, XRP, Solana and Cardano.
The decision, which was originally expected by June 1, has now been postponed up to July 31. Nyse Arca first submitted the proposed rule change in November 2024, and it was published for public comment in the Federal Register in December last year.
Sec first delayed the decision on the ETF application on January 14, followed by the introduction of procedures on March 3 to determine whether to approve or reject the proposal.
Launched in November 2017, Bit bit 10 crypto index fund (Bitw) provides investors diversified exposure to the 10 largest and most appreciated crypto assets.
It strives to track Bitwise 10 large CAP crypto index, which chooses these 10 best crypto assets based on criteria such as market value, minimum requirements for trade volume, concentration limits and legislation.
As of May 27, 2025, the fund held, valued at $ 1.4 billion, ten large crypto assets, led by Bitcoin of almost 78%, followed by Ethereum and XRP. Other crypto assets include Solana, Cardano, SUI, Chainlink, Avalanche, Litecoin and Polkadot.
On Wednesday, Sec also delayed its decisions on two other crypto -etf suggestions, including Graysscales Spot Cardano ETF and Spot Avalanche ETF. Both applications are part of Greyscale’s effort to expand its product line in addition to Bitcoin and Ethereum.
The agency’s move to push back decisions on crypto ETF applications is not surprising. This pattern of delays is consistent with Sec’s standard review process for innovative financial products such as Crypto ETFS.
Analysts expect approvals to occur within the year, even if decisions are delayed until the middle or late 2025.
Yes, Sec only pointed to a bunch of alt -coin ETF applications including Litecoin, Solana, XRP & Dogge. It is expected because this is the standard procedure & Atkins has not even been confirmed yet. This does not change our (relatively high) odds of approval. Also note that the last deadlines …
– James Seyffart (@jseyff) March 11, 2025
