SEC Approves U.S.’ Second Crypto Index ETP With Bitwise’s BITW

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.

You need to login in order to Like