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The stock exchange and securities commission approved, then stopped abruptly, Bitwise’s plan to convert its Bitwise 10 Crypto Index (BITW) in a negotiated (ETF) spot change (ETF) of spot change, which increases uncertainty about the standards of the Cryptographic ETF agency.

The fund has 90% of its weight in Bitcoin (BTC) and Ethher (ETH), with the rest extended through Solana (Sol), XRP, Cardano (ADA), Avalanche (Avax), Chainlink (Link), Bitcoin Cash (Bch), Uniswap (UNI) and Polkadot (Dot). It handles $ 1.68 billion in assets and rebalancing monthly.

Bitwise launched the background in 2017. The 2.5% spending ratio remains steep for ETF standards, but the conversion to an ETF spot would make the first ETF index of multiple asset crypto index in the USA. UU. The asset manager has not yet revealed whether the management rate would remain at 2.5%.

A similar product, the Fund of CAP Gran Cape of Grayscale (GDLC), which tracks BTC, Eth, XRP, Sun and ADA, also received the initial approval of the SEC before the agency reversed the course, stopping the launch of the background.

A letter from the SEC on Tuesday said “The Commission will review the delegated action”, the writing identical to the letter received the gray scale when its ETF was arrested.

According to the sources that spoke with Coindesk at that time, the doubt of the SEC is probably derived from the need to establish standards consistent for cryptographic ETFs, particularly for tokens such as XRP and Ada that they still do not have independent ETFs yet.

The ETF file of the SEC has been occupied. On Tuesday, the regulator published presentations by Franklin Templeton, Fidelity, Invesco Galaxy and others who seek to amend the mechanics of redemption for their ETF of Bitcoin and/or Ethereum. He also launched a review of the Capital Sui ETF canary and extended the deadline in the SUI ETF application of 21Shares.

Separate, 21Shares presented a proposal for a monitoring of ETF Ondo, the Token that feeds the real world asset platform ondo Finance.

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