The U.S. Securities and Exchange Commission has granted approval for the Bitwise 10 Crypto Index Fund to convert into an exchange-traded fund (ETF). This newly authorized ETF tracks a diversified portfolio of ten major cryptocurrencies, including Bitcoin, Ethereum, XRP, Solana, Cardano, Sui, Chainlink, Avalanche, Litecoin, and Polkadot.
The conversion marks a significant regulatory milestone for digital asset investment vehicles, offering investors regulated exposure to a multi-asset crypto portfolio through traditional brokerage channels. The ETF structure streamlines access to leading cryptocurrencies while potentially reducing operational hurdles associated with direct token ownership.
This approval signals growing institutional acceptance of cryptocurrency diversification strategies within compliant frameworks. The fund aims to mitigate single-asset volatility risks by distributing investments across established blockchain projects with significant market capitalization and adoption.