The U.S. Securities and Exchange Commission (SEC) has extended the review period for the conversion of the Bitwise 10 Crypto Index Fund into an ETF to July 31, 2025, resulting in significant market reactions.
SEC Review Extension
The SEC has extended the review period for the Bitwise 10 Crypto Index Fund’s ETF conversion, citing the need for further analysis before making a decision. This extension has drawn attention from investors focused on market movements and the reactions of various assets included in the fund.
Market and Investor Reactions
The market has responded cautiously to the news of the extended review period, with minimal significant movement in major assets such as BTC, ETH, and XRP. Investors remain optimistic while awaiting the SEC's decision. An SEC spokesperson commented on the ongoing approval process.
Bitcoin Price Dynamics
Despite delays in ETF approval, Bitcoin (BTC) prices have shown notable volatility, currently priced at $119,637.47 with a market cap of $2,380,310,806,169.42, having increased by 27.42% over the last 90 days.
The extension of the SEC's review period for the Bitwise 10 Crypto Index Fund ETF adds uncertainty to the market, yet continues to attract investor interest in the legitimization of cryptocurrency assets and the awaited SEC approval.
