The U.S. Securities and Exchange Commission (SEC) has delayed approval of Bitwise’s cryptocurrency exchange-traded fund (ETF) application due to an ongoing comprehensive review of the firm’s 10 Crypto registration filing. The pause reflects persistent regulatory uncertainty as authorities balance investor protection with digital asset market development.
Market analysts note this move mirrors the SEC’s earlier postponement of Grayscale’s ETF application, signaling recurring regulatory caution. Industry experts attribute the hesitation partly to the absence of standardized crypto ETF listing rules. Separately, the SEC extended decision deadlines for in-kind redemption structures within Bitwise’s Bitcoin and Ether spot ETF proposals, indicating efforts to streamline future approvals.
Internal SEC dynamics, including political considerations, appear to influence the pace and transparency of cryptocurrency ETF evaluations. These developments underscore institutional challenges in adapting regulatory frameworks to rapidly evolving digital asset markets while safeguarding investor interests.