SEC’s Fast-Track Approval Faces Unforeseen Hurdles
Main Idea
The SEC initially approved Bitwise's application to convert its 10 Crypto Index Fund into an ETF but later suspended the approval for review, drawing comparisons to a similar case involving Grayscale's fund.
Key Points
1. Bitwise's application for an ETF conversion was initially approved by the SEC's Division of Trading and Markets on July 22, 2025, but later suspended under 17 CFR 201.431 for review.
2. The SEC's reconsideration is similar to the suspension of approval for Grayscale's Digital Large Cap Fund's ETF conversion.
3. Bitwise's BITW fund includes cryptocurrencies such as Bitcoin, Ethereum, XRP, Solana, and Polkadot.
4. Experts speculate that the SEC's suspension may be due to objections or the need for a more comprehensive regulatory framework.
5. The SEC is reportedly developing a new listing standard to streamline the ETF approval process, which currently can take up to 240 days via the 19b-4 form.
Description
The SEC initially approved Bitwise's ETF conversion through accelerated approval. SEC's Sherry R. Continue Reading: SEC’s Fast-Track Approval Faces Unforeseen Hurdles The post SEC’s Fast-Track Approval Faces Unforeseen Hurdles appeared first on COINTURK NEWS .
Latest News
- Crypto Markets React to Global Uncertainty and Trump’s Stance on Tariffs2025-07-23 14:06:26
- Trump Demands Immediate Fed Action as Economic Concerns Mount2025-07-23 13:46:05
- Ripple Faces SEC Challenge: Will Legal Turmoil Break New Ground?2025-07-23 13:30:44
- Upexi Increases Solana Holdings With Bold Moves2025-07-23 12:52:25
- Ethereum Validators Boost Network Queue during Price Surge2025-07-23 12:38:52