As a seasoned financial analyst with over two decades of experience in the industry, I can confidently say that this move by Bitwise is a significant step forward in the mainstream adoption of cryptocurrencies. Having closely followed the evolution of Bitcoin and other digital assets, I’ve witnessed their potential to disrupt traditional finance and reshape our economic landscape.
Bitwise Asset Management has formally submitted their proposal for the 10 Cryptocurrency Index ETF to the U.S. Securities and Exchange Commission (SEC). Previously, their exchange partner, the New York Stock Exchange (NYSE), had already filed a 19b-4 application earlier this month. The SEC has now acknowledged the 19b-4 submission.
The Bitwise 10 Crypto ETF
According to the document, the Bitwise 10 Crypto Index ETF consists of Bitcoin (BTC), Ethereum (ETH), Solana (SOL), XRP. Additionally, it includes Cardano (ADA), Avalanche (AVAX), Chainlink (LINK), Bitcoin Cash (BCH), Polkadot (DOT), and Uniswap (UNI).
The investment fund follows the fluctuations in value of these assets, allocating them according to their significance, thereby offering investors a secondary means of involvement with the underlying cryptocurrencies. Bitwise has been making headlines more frequently as of late. As previously mentioned by Coingape, NYSE Arca submitted the 19b-4 form for its Bitcoin and Ethereum ETP earlier this week, aiming for approval.
This is a developing story, please check back for updates!!!
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2024-11-28 01:01