The U.S. Securities and Exchange Commission has decided to postpone its decision regarding the listing of a new Bitwise ETF that encompasses a crypto portfolio. This change followed a recent request by NYSE Arca.
SEC Decision Delay
The U.S. Securities and Exchange Commission announced the need for additional time to make a decision. In December, NYSE Arca filed for the listing of the Bitwise 10 Crypto Index Fund. If approved, it would be the first diversified spot crypto ETF to enter the U.S. market and the first to include altcoins.
Rising Interest in Crypto Index ETFs
Financial experts believe that crypto index ETFs are becoming the next big focus for issuers, following the launch of funds focusing on BTC and ETH. Katalin Tischhauser, head of investment research at crypto bank Sygnum, emphasized the significance of index ETFs, comparing them to the popularity of the S&P 500.
Other Bitwise Initiatives
In November, the NYSE filed to list another Bitwise ETF called Bitwise Bitcoin and Ethereum ETF. Additionally, the company is developing new products, including an ETF focused on companies with large Bitcoin holdings. Meanwhile, other players like Grayscale and Franklin Templeton are also aiming to compete in the market.
The postponement of the SEC's decision on the Bitwise ETF reflects the growing importance of crypto investments and the consequent need for thorough analysis of new financial product proposals.
