The U.S. Securities and Exchange Commission (SEC) has granted approval for the conversion of the Bitwise 10 Crypto Index Fund into an exchange-traded fund (ETF).
This significant regulatory milestone marks the first ETF based on a diversified basket of major cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH).
The approval signals growing confidence from the SEC in the underlying infrastructure and regulatory compliance capabilities of the cryptocurrency market.
It represents a notable advancement in the pathway towards broader institutional adoption of digital assets within traditional finance frameworks, offering a regulated investment vehicle tracking leading crypto assets.