• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

SEC Halts Bitwise's 10 Crypto Index Fund ETF Conversion

user avatar

by Giorgi Kostiuk

6 hours ago


Bitwise's attempt to convert its 10 Crypto Index Fund into an exchange-traded fund (ETF) has hit an unexpected snag after initial approval from the SEC.

Reasons for Bitwise's Delay

The pause comes after Deputy Secretary Sherry R. Haywood announced a review of the decision, referencing legal provisions under Rule 431. This leaves the process in a state of uncertainty as Bitwise remains in limbo.

Similarity to Grayscale's Situation

This measure mirrors a similar situation encountered by Grayscale's fund, which also faced suspension shortly after initial approval. Despite setbacks, Grayscale remains committed to completing the process.

Expert Opinions on ETF Future

Industry expert Scott Johnsson from Van Buren Capital suggested that the SEC might have initially issued approval while anticipating possible objections. Other experts, including James Seyffart from Bloomberg Intelligence, speculate that the delay could serve to develop clearer regulatory frameworks.

The current situation underscores the evolving dynamics of crypto regulation and the SEC's cautious approach towards ETF evaluations. The outcome of this review will be pivotal for Bitwise and the broader crypto market.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

Other news

Ripple and SEC Conflict: Key Expectations and Potential Market Impacts

chest

The Ripple vs. SEC dispute influences the crypto market's state and may set new benchmarks.

user avatarGiorgi Kostiuk

Ripple vs. SEC: Analyzing Current Events and Future Market Implications

chest

In the midst of Ripple's legal battles with the SEC: what awaits the crypto industry after the court's decision?

user avatarGiorgi Kostiuk

PancakeSwap Price Analysis: Rapid Rise and Positive Indicators for CAKE

chest

PancakeSwap (CAKE) shows a bullish trend with a 9% rise. Improved social sentiment indicates investor interest.

user avatarGiorgi Kostiuk

Tether Invests $13.7 Billion in 120 Companies

chest

Tether announced an investment of $13.7 billion in over 120 companies, including Bitdeer and Juventus, to diversify its portfolio.

user avatarGiorgi Kostiuk

Could Little Pepe Repeat XRP's Success? Insights on the New Meme Coin

chest

Little Pepe, with a presale price of $0.0014, raises interest among crypto watchers, reminiscent of XRP's explosive growth in 2017.

user avatarGiorgi Kostiuk

Nature’s Miracle Embraces an XRP Treasury Program

chest

Nature’s Miracle Holdings announces a $20 million XRP treasury program to enhance growth and operational efficiency.

user avatarGiorgi Kostiuk
dapp expert logo
© 2020-2025. DappExpert. All rights reserved.
© 2020-2025. DappExpert. All rights reserved.

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.