The U.S. Securities and Exchange Commission (SEC) has officially approved the conversion of Bitwise’s 10 Crypto Index Fund into a regulated exchange-traded fund (ETF). This landmark decision establishes the ETF as a novel investment vehicle providing exposure to a diversified cryptocurrency portfolio.
The newly approved ETF tracks an index comprising ten major digital assets: Bitcoin (BTC), Ethereum (ETH), XRP (XRP), Solana (SOL), Cardano (ADA), Sui (SUI), Chainlink (LINK), Avalanche (AVAX), Litecoin (LTC), and Polkadot (DOT). This diversified basket aims to offer investors comprehensive exposure to the broader cryptocurrency market through a single regulated instrument.
Approval of this conversion represents a significant advancement in cryptocurrency investment accessibility within traditional financial frameworks. By transitioning to an ETF structure, Bitwise achieves enhanced liquidity options while aligning with evolving regulatory standards for digital asset offerings.