Bitwise’s crypto fund has just become the second crypto index to begin trading, letting individual traders and institutions access to multiple cryptocurrencies in a single investment vehicle.
The Bitwise 10 Crypto Index Fund (BITW), a $1.25 billion vehicle tracking the 10 largest digital assets, received the U.S. Securities and Exchange Commission (SEC)’s approval to begin trading Tuesday on NYSE Arca as an exchange-traded product (ETP).
It is the second U.S.-listed multi-asset crypto index fund to be approved as a full ETP, following Grayscale’s ETP approval in July, moving beyond over-the-counter trading into a regulated exchange listing.
The fund, originally launched in 2020, offers diversified exposure to Bitcoin, Ether, Solana, XRP and other top cryptocurrencies, rebalanced monthly based on market capitalization and liquidity filters.
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