Bitwise Files SEC Application for 10 Cryptocurrency Index ETF
Bitwise, a prominent player in the crypto space, shook things up by lodging an application with the SEC for an ETF that goes beyond just Bitcoin. This move, which includes 10 different crypto indexes, could potentially revolutionize the world of crypto ETFs.
The timing of this application is crucial, as it comes on the heels of Gary Gensler’s upcoming departure, hinting at Bitwise’s optimism around future regulatory landscapes. While it’s still uncertain whether this application will get the green light, its approval could set a precedent for similar ventures by other companies in the future.
What makes Bitwise’s ETF application stand out is its comprehensive approach. While they previously applied for an XRP ETF, this new initiative covers a more extensive range of assets including Bitcoin, Ethereum, XRP, Solana, Cardano, Uniswap, Polkadot, Chainlink, Avalanche, and Bitcoin Cash. Partnering with industry giants like Coinbase Custody, BNY Mellon, and CF Benchmarks further underscores Bitwise’s commitment to bringing credibility and stability to the crypto market.
While the future is uncertain, this move by Bitwise could potentially open doors for further innovation in the crypto ETF space. As we keep a close eye on regulatory developments post-Gary Gensler’s departure, it’s important to stay informed and adaptable to the ever-evolving crypto landscape.
