SEC Approves, Immediately Pauses Bitwise's Bid to Convert BITW Crypto Index Fund to ETF

Description

The Securities and Exchange Commission approved — then abruptly paused — Bitwise’s plan to convert its Bitwise 10 Crypto Index Fund ( BITW ) into a spot exchange-traded fund (ETF) on Tuesday, raising fresh uncertainty around the agency’s standards for crypto ETFs. The fund holds 90% of its weight in bitcoin (BTC) and ether (ETH), with the remainder spread across Solana (SOL), XRP, Cardano (ADA), Avalanche (AVAX), Chainlink (LINK), Bitcoin Cash (BCH), Uniswap (UNI) and Polkadot (DOT). It manages ...