Yigit Taha OZTURK 
NYSE Arca has submitted a filing to the SEC to list the Bitwise 10 Crypto Index Fund as an ETP (Exchange-Traded Product), a move aimed at converting the $1.3 billion fund into a regulated structure.
On November 15, Bitwise Asset Management announced that NYSE Arca had filed a 19b-4 form to list the Bitwise 10 Crypto Index Fund as an ETP. The fund includes investments in the top 10 cryptocurrencies, including Bitcoin, Ether, Solana, XRP, Cardano, Avalanche, Bitcoin Cash, Chainlink, Uniswap, and Polkadot. As of October 31, 2024, Bitcoin comprises 75.1% of the fund, Ether 16.5%, Solana 4.3%, and XRP 1.6%.
Bitwise CEO Hunter Horsley stated that ETPs are the “most efficient, practical, and useful tools” for providing exposure to crypto assets. ETPs are preferred for offering regulatory protections and increased shareholder efficiency. The ability of ETPs to continuously accept subscriptions and redemptions also allows for closer alignment with the fund’s Net Asset Value (NAV) in secondary market trading.
This filing marks another step in Bitwise‘s effort to convert its $1.3 billion trust into an ETP.
In addition to this filing, NYSE Arca also sought to list the Grayscale Crypto Index ETF. On October 29, it filed to list the Grayscale Digital Large Cap Fund as an ETF, which holds a portfolio of BTC, ETH, SOL, XRP, and AVAX.
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