The US Securities and Exchange Commission approved and then immediately paused the conversion of Bitwise’s crypto index fund into an exchange-traded fund, leaving it in limbo pending a review.
The SEC’s Division of Trading and Markets data-ct-non-breakable=”null” href=”https://www.sec.gov/files/rules/sro/nysearca/2025/34-103531.pdf” rel=”noopener nofollow” target=”_blank” title=”null”>granted an “accelerated approval” of the Bitwise 10 Crypto Index data-ct-non-breakable=”null” href=”https://cointelegraph.com/learn/articles/different-types-of-etfs” title=”null”>conversion into an ETF on Tuesday, which means Bitwise could request that the SEC declare the registration effective earlier than the regular timeline.
However, in a letter the same day, SEC assistant secretary Sherry Haywood data-ct-non-breakable=”null” href=”https://www.sec.gov/files/rules/sro/nysearca/2025/sr-nysearca-2024-98-rule-431-letter-2025-07-22.pdf” rel=”noopener nofollow” target=”_blank” title=”null”>said the “order is…
