The Bitwise 10 Crypto Index Fund has achieved a significant milestone by receiving approval from the US Securities and Exchange Commission (SEC) to uplist to NYSE Arca. According to the conclusions drawn in the analytical report, this transition marks a pivotal moment for the fund, allowing it to operate as a regulated exchange-traded product (ETP).
Approval and Rule Change Certification
The approval follows a lengthy review process and a rule change certification on December 4, 2024. With this uplisting, the Bitwise fund will provide institutional investors with index-style exposure to the ten largest cryptocurrencies by market capitalization, enhancing the legitimacy and accessibility of crypto investments in the financial sector.
Bitwise 10 Crypto Index Fund's Role
Since its inception in 2020, the Bitwise 10 Crypto Index Fund has been a key player in the crypto investment landscape. It now joins Grayscale's multi-asset crypto fund as one of only two US-listed products that offer diversified crypto exposure under full exchange oversight. This development is expected to broaden access for financial advisors and institutional investors, effectively aligning cryptocurrency investments with traditional ETP structures.
In a notable development within the cryptocurrency sector, Remittix has announced multiple listings for its RTX token on major centralized exchanges, enhancing its market presence. This follows the recent approval of the Bitwise 10 Crypto Index Fund to uplist to NYSE Arca, highlighting the growing legitimacy of crypto investments. For more details, see further information.
