Bitwise Files for 10-Crypto Index ETF with SEC
Bitwise Investment Management has taken a big step by submitting a 10-Crypto Index ETF application to the SEC. This ETF aims to mirror the Bitwise 10 Large Cap Crypto Index, which includes big players like Bitcoin, Ethereum, Solana, Ripple, Cardano, Avalanche, Chainlink, Bitcoin Cash, Polkadot, and Uniswap.
If this ETF gets the green light, it would mean that investors could jump into the world of digital assets with some regulatory backing. This could make it easier for people to explore the exciting world of cryptocurrencies.
The plan is for the ETF to rebalance monthly, ensuring that it keeps up with the ever-changing landscape of the top 10 large-cap cryptocurrencies. To keep everything safe and secure, assets will be held with Coinbase Custody, while The Bank of New York Mellon will take care of the cash side of things.
This move marks a significant development in the crypto investment space, providing investors with a potential new opportunity to diversify their portfolios with some of the most significant digital assets out there. So, if you’re thinking about entering the world of crypto, this ETF might just be the ticket you’ve been looking for.
