U.S. Securities and Exchange Commission (SEC) Approves Then Pauses Bitwise ETF Offering Wide Crypto Exposure

Description

The top securities regulator in the US is pausing Bitwise’s plan to convert its Bitwise 10 Crypto Index Fund (BITW) into a spot exchange-traded fund (ETF) almost immediately after approving it. Two days ago, the U.S. Securities and Exchange Commission (SEC) gave an “ accelerated ” approval of Bitwise’s proposal to convert BITW to a spot ETF. “Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘Exchange Act’) and Rule 19b-4 thereunder, NYSE Arca, Inc. (‘NYSE Arca’ or ‘Exchange’)...