Bitwise Crypto ETF Faces Sudden Pause After Surprise Approval by the SEC
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Description
The U.S. SEC has approved, then abruptly paused, the conversion of Bitwise’s crypto index fund into an exchange-traded fund (ETF), leaving the process in uncertainty as the agency reviews its own decision. On Tuesday, the agency’s Division of Trading and Markets granted accelerated approval for Bitwise’s plan to convert its Bitwise 10 Crypto Index Fund (BITW) into an ETF, allowing Bitwise to request an early effective registration date. However, on the same day, SEC assistant secretary Sherry Ha...
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