The U.S. Securities and Exchange Commission (SEC) has temporarily suspended approval of the Bitwise 10 Crypto Index Exchange-Traded Fund, which tracks major digital assets including Bitcoin, Ethereum, XRP, and Solana, pending further regulatory assessment.
This decision places a hold on the proposed transition of the existing Bitwise 10 Crypto Index Fund into an ETF structure, despite earlier preliminary authorization from the regulator. The suspension initiates deeper examination of the product ahead of potential market listing.
The move reflects the SEC’s pattern of cautious evaluation for cryptocurrency investment vehicles, reminiscent of prior suspensions seen with products like the Grayscale Digital Large Cap Fund. Industry analysts highlight the agency’s particular scrutiny toward ETFs holding certain altcoins, including XRP and ADA, amid persistent regulatory uncertainties.
This regulatory pause underscores ongoing challenges for crypto-based financial products seeking mainstream adoption, signaling rigorous compliance demands persist for complex digital asset offerings.