Bitwise’s BITW Wins SEC Approval, Expanding U.S. Crypto Index ETP Market
The SEC approved Bitwise's 10 Crypto Index Fund (BITW) as a regulated ETP trading on NYSE Arca.Summary
The U.S. Securities and Exchange Commission (SEC) approved the Bitwise 10 Crypto Index Fund (BITW) to trade on NYSE Arca as an exchange-traded product (ETP). This makes BITW the second U.S.-listed multi-asset crypto index fund to achieve this status, following Grayscale's approval, moving it beyond over-the-counter trading into a regulated exchange listing structure similar to gold and oil funds. The $1.25 billion BITW tracks the 10 largest digital assets, offering diversified exposure to Bitcoin, Ether, Solana, and others, rebalanced monthly. Bitwise executives stated this uplisting is a "watershed moment" that could attract more institutional capital by allowing investment in the crypto thesis without direct token exposure.
(Source：CoinDesk)