‘Bizarre’: ETF with XRP Exposure Hits Major SEC Roadblock
Main Idea
The U.S. SEC halted the conversion of Bitwise’s 10 Crypto Index Fund into an ETF, which would have provided exposure to XRP and other altcoins, despite a generally pro-crypto stance from the SEC administration.
Key Points
1. The SEC stopped Bitwise's index fund conversion to an ETF, which included XRP and other major altcoins.
2. The halt occurred shortly after an SEC analyst suggested the fund could proceed, creating confusion.
3. XRP ETFs may face regulatory delays as the SEC works on a new universal listing framework.
4. Spot-based altcoin ETFs are expected to be approved by late 2025.
5. U.S. investors currently have access to leveraged and futures-based XRP and Solana (SOL) ETFs.
Description
The U.S. SEC suddenly stopped the conversion of Bitwise's index fund into an ETF, causing some confusion
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