The U.S. Securities and Exchange Commission (SEC) postponed its decision on Bitwise's crypto ETF to March 2025, emphasizing the need for a thorough understanding of its market impact.
SEC's Deferred Decision
The Bitwise 10 Crypto Index ETF decision is now set for March 3, 2025, as SEC seeks to understand its potential market impact provided by NYSE Arca. The lack of public opinions on the application suggests persistent regulatory concern.
Bitwise's Push for Innovation
Launched in 2017, Bitwise 10 Crypto Index Fund offers exposure to top digital assets. CEO Hunter Horsley highlighted increased efficiency and improved investor protections by shifting to an ETF structure. CIO Matt Hougan praised the fund for simplifying market access to digital assets.
Regulatory Climate and Future Implications
The SEC's cautious approach reflects the complex regulatory environment surrounding crypto investments. The proposal involves assets like Cardano, Avalanche, Polkadot, and Uniswap. Regulatory uncertainty under Chair Gary Gensler poses challenges. However, Paul Atkins' nomination as SEC Chair lifts hopes for policy shifts.
The SEC's wait-and-see stance heightens interest and investor expectations toward an eventual ETF approval before the set deadline.
