The US Securities and Exchange Commission (SEC) has extended its review of the Bitwise 10 Crypto Index ETF proposal to March 3, 2025. This delay, while expected, underscores the SEC’s meticulous approach to regulating cryptocurrencies. The Bitwise ETF, aiming to track the top 10 cryptocurrencies by market capitalization, including Bitcoin, Ethereum, and Solana, has been managed by Bitwise since 2018. Its proposed conversion into an ETF has generated considerable interest within the financial industry.
This delay follows a similar pattern observed with other crypto-related ETF applications, such as Grayscale’s GDLC fund, whose decision deadline is February 2, 2025.
Crypto analyst Marty Party suggested that political factors may influence the timing of approvals, with a potential acceleration after the next presidential inauguration. He emphasized the significant market impact that the approval of such funds, encompassing major cryptocurrencies like BTC and ETH, could have.
In December, Bitwise also filed a separate application for the “Bitcoin Standard Corporations ETF,” focusing on companies with substantial Bitcoin holdings.
While the SEC’s cautious approach may lead to delays, the potential approval of these ETFs would mark a significant milestone for crypto investment products, fostering greater accessibility and participation in the digital asset market.
January 2025, Cryptoniteuae
