{"id":32958,"date":"2024-11-28T13:30:18","date_gmt":"2024-11-28T10:30:18","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=32958"},"modified":"2024-11-28T10:52:46","modified_gmt":"2024-11-28T07:52:46","slug":"bitwise-files-for-10-crypto-index-fund-etf-with-the-sec","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/bitwise-files-for-10-crypto-index-fund-etf-with-the-sec\/","title":{"rendered":"Bitwise Files for 10 Crypto Index Fund ETF with the SEC"},"content":{"rendered":"

Digital asset management firm Bitwise<\/strong> has filed for an exchange-traded fund (ETF)<\/strong> based on its existing 10 Crypto Index Fund (BITW)<\/strong>. NYSE Arca<\/strong> submitted the application on November 15 to list the fund. According to the filing submitted to the SEC<\/strong> on November 27, the fund will provide investors with indirect exposure to major cryptocurrencies, with the assets securely held by a designated custodian.<\/p>\n

The Bitwise 10 Crypto Index Fund<\/strong> is heavily weighted towards Bitcoin (75.14%)<\/strong> and Ether (16.42%)<\/strong>, alongside other major assets, including Solana (SOL)<\/strong>, Ripple (XRP)<\/strong>, Avalanche (AVAX)<\/strong>, Chainlink (LINK)<\/strong>, Cardano (ADA)<\/strong>, Bitcoin Cash (BCH)<\/strong>, Uniswap (UNI)<\/strong>, and Polkadot (DOT)<\/strong>. The fund\u2019s total assets under management (AUM<\/strong>) stand at approximately $1.4 billion<\/strong>.<\/p>\n

\"bitwise\"<\/p>\n

The filing specifies that the fund will exclusively hold portfolio assets and cash, expressly disclaiming ownership of any other digital assets. Coinbase Custody<\/strong> has been named as the partner for the crypto components, while Bank of New York Mellon<\/strong> will act as the custodian for the cash holdings.<\/p>\n

This move is part of Bitwise\u2019s active strategy in the evolving crypto space. Recently, the firm rebranded its European XRP ETF<\/strong> to Bitwise Physical XRP ETP<\/strong> and filed for a spot Bitcoin<\/strong> and Ether<\/strong> ETF on November 26. Additionally, on November 20, Bitwise submitted a filing for a spot Solana ETF<\/strong> in Delaware.<\/p>\n

The SEC has yet to determine a timeline for approval or rejection of the application. However, the growing number of pro-crypto politicians and policies in the U.S. indicates a potentially more favorable regulatory environment for cryptocurrencies in the near future.<\/p>\n

\n

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0Telegram,\u00a0<\/strong><\/a>YouTube<\/strong><\/a>,\u00a0and\u00a0Twitter<\/strong><\/a>\u00a0channels for the latest\u00a0news<\/a>\u00a0and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Digital asset management firm Bitwise has filed for an exchange-traded fund (ETF) based on its existing 10 Crypto Index Fund (BITW). NYSE Arca submitted the application on November 15 to list the fund. According to the filing submitted to the SEC on November 27, the fund will provide investors with indirect exposure to major cryptocurrencies,<\/p>\n","protected":false},"author":28,"featured_media":30284,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,10,657,11,2],"tags":[9732,514,273,272,5309,61,330,1149,60,513,724,9733,584,297,106,105,2196,5675,350,39,319,2013,71,506],"class_list":["post-32958","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-economy-news","category-en","category-exchange-news","category-news","tag-10-crypto-index-fund","tag-ada","tag-avalanche","tag-avax","tag-bch","tag-bitcoin","tag-bitcoin-cash","tag-bitwise","tag-btc","tag-cardano","tag-chainlink","tag-cryptocurrency-regulations","tag-dot","tag-etf","tag-eth","tag-ethereum","tag-link","tag-nyse-arca","tag-polkadot","tag-sec","tag-solana","tag-uni","tag-uniswap","tag-xrp"],"yoast_head":"\nBitwise Files for 10 Crypto Index Fund ETF with the SEC - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/bitwise-files-for-10-crypto-index-fund-etf-with-the-sec\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitwise Files for 10 Crypto Index Fund ETF with the SEC - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"Digital asset management firm Bitwise has filed for an exchange-traded fund (ETF) based on its existing 10 Crypto Index Fund (BITW). 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