SEC Delays Bitwise Crypto ETF Decision
SEC Delays Bitwise Crypto ETF Decision to July 2025
The US Securities and Exchange Commission (SEC) announced a further delay in its decision regarding the Bitwise 10 Crypto Index Fund ETF proposal. The review period has been extended to July 31, 2025, pushing back the initially anticipated June 1st deadline.
Key Takeaways
- The SEC extended the Bitwise ETF review to July 31, 2025.
- The proposal aims to list the Bitwise 10 Crypto Index Fund on NYSE Arca.
NYSE Arca initially submitted the proposal in November 2024. After a public comment period, the SEC initiated proceedings in March 2025 to decide whether to approve or disapprove the listing. This latest delay marks a significant postponement for the highly anticipated ETF.
The Bitwise 10 Crypto Index Fund
Launched in November 2017, the Bitwise 10 Crypto Index Fund (BITW) offers exposure to ten major cryptocurrencies, with a current value of $1.4 billion. As of May 27, 2025, its holdings were predominantly Bitcoin (nearly 78%), followed by Ethereum and XRP. Other assets included Solana, Cardano, Sui, Chainlink, Avalanche, Litecoin, and Polkadot.
The fund's composition reflects a weighted approach based on market capitalization, trading volume, regulatory compliance, and concentration limits.
Further Delays and Industry Outlook
The SEC also delayed decisions on other crypto ETF proposals, including Grayscale’s spot Cardano and Avalanche ETFs. While these delays might seem concerning, they align with the SEC’s usual review process for novel financial products like crypto ETFs.
Despite the postponements, analysts remain optimistic about potential approvals within the year, even if decisions extend into late 2025. This continued interest in crypto ETFs signals the industry's ongoing evolution and increasing institutional adoption.
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