SEC Extends Review of Bitwise 10 Crypto Index ETF to March 2025
The US Securities and Exchange Commission (SEC) has postponed its review of the Bitwise 10 Crypto Index ETF proposal to March 3, 2025. This allows for a more thorough evaluation of the fund, which aims to track major cryptocurrencies by market capitalization, such as Bitcoin, Ethereum, and others.
- Initial proposal submitted on November 14, 2024
- Published in the Federal Register on December 3, no public comments received
- Original decision deadline was January 17, 2025
- Analysts anticipated the delay; SEC's cautious approach noted
- Similar delays predicted for other proposals, including Grayscale's GDLC fund due February 2, 2025
- Bitwise also filed for the "Bitcoin Standard Corporations ETF" focusing on companies with substantial Bitcoin holdings
Approval of these ETFs could significantly impact the crypto market, enhancing participation in digital asset investments. The SEC's careful review reflects a balance between innovation and investor protection.