Bitwise Gets XRP ETF Approval from SEC, But Trading Halted

Key Points

1. The SEC approved Bitwise's Crypto Index Fund to convert into an ETF, with allocations including Bitcoin (78.72%), Ethereum (11.10%), and XRP (4.97%).

2. The ETF launch was delayed due to a regulatory stay under SEC Rule 431(e), despite prior approval, causing confusion and criticism from industry experts.

3. Altcoins like XRP and Solana are gaining renewed investor interest as Bitcoin's market dominance declines from 65% to 60% in the past 30 days.

4. The Bitwise ETF aims to provide diversified crypto exposure, including high-potential altcoins, but remains inactive due to the SEC's regulatory hold.

5. The ETF's current allocations adhere to SEC guidelines, requiring at least 85% of assets in approved cryptocurrencies (BTC and ETH), with the remaining 15% in others like XRP and SOL.