Bitwise Crypto ETF Approved with BTC, ETH, XRP & More!
Bitwise Crypto Index Fund Approved by SEC as ETF
The U.S. Securities and Exchange Commission (SEC) has granted approval for Bitwise to convert its 10 Crypto Index Fund into an Exchange Traded Fund (ETF). This allows investors to gain diversified exposure to major digital assets, including Bitcoin (BTC), Ethereum (ETH), XRP, and Solana (SOL).
According to the official filing, the ETF will also include Cardano (ADA), Sui (SUI), Chainlink (LINK), Avalanche (AVAX), Litecoin (LTC), and Polkadot (DOT). This decision marks one of the most comprehensive crypto ETF approvals in the U.S. market, indicating a significant shift in regulatory acceptance of crypto-based investment products.
Key Takeaways:
- The SEC has approved the conversion of the Bitwise 10 Crypto Index Fund into an ETF.
- The ETF will provide exposure to ten major crypto assets: Bitcoin, Ethereum, XRP, Solana, Cardano, Sui, Chainlink, Avalanche, Litecoin, and Polkadot.
Bitwise's Current Crypto ETF Holdings
Bitwise currently manages approximately $5.79 billion in assets across its 12 crypto ETFs. Their flagship spot Bitcoin ETF holds about $4.79 billion, and their Ethereum ETF adds $431 million in net assets.
Analyst Predictions for Future ETF Approvals
As regulatory attitudes toward crypto evolve, industry experts anticipate further ETF approvals. Bloomberg ETF analyst James Seyffart mentioned in June that he estimates a 95% approval likelihood for ETFs involving XRP, Litecoin, and Solana. He also suggests a 90% likelihood of approval for ETFs including Cardano, Polkadot, HBAR, Avalanche, and even Dogecoin in the near future.
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