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BitWise advances with application for approval of diversified cryptocurrency ETF
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THE BitWise took another important step in the financial market by asking the US Securities and Exchange Commission (SEC) to approve a ETF that will include the top 10 cryptocurrencies by market capitalization.
The fund, called 10 Crypto Index ETF, search expand investment options in crypto assets in the United States, offering diverse access to currencies such as Bitcoin, Ethereum, Solana, XRP, Cardano, Avalanche, Chainlink, Bitcoin Cash, Polkadot and Uniswap.
The SEC has already recognized the registration of the proposal, starting the regulatory process that will determine the approval or rejection of the ETF. Although the official deadline for the decision has not yet been announced, the fact marks a advancement in the recognition of cryptocurrencies as part of the regulated financial system.
In recent months, the approval of Bitcoin ETFs in the US brought optimism to the sector and paved the way for initiatives like this.
BitWise calls for ETF with multiple cryptocurrencies
Since 2018, BitWise has operated the 10 Crypto Index Fund, which tracks the value of the ten largest cryptocurrencies. Now, with the new ETF, the company seeks attract growing interest from institutional investors in digital assets.
By 2024, BitWise had already launched a Bitcoin ETF (BITB) and submitted an application for a Solana ETF. These efforts place the company alongside major players such as VanEck and 21Shares, which are also expanding their offerings in crypto assets.
In addition to the North American market, the BitWise is expanding its operations internationally. Recently, the company submitted a proposal for an exchange-traded product (ETP) of XRP in Europehighlighting its commitment to leading the global cryptocurrency investment market.
The announcement sparked speculation in the crypto community, especially with the inclusion of Cardano (ADA) in the fund. Some analysts believe that the recent increase in ADA’s price may be linked to significant purchases to service the ETF.
This movement, combined with expectations of approval, has aroused great enthusiasm among investors.
Under the SEC’s renewed leadership, the market is seeing signs of a shift in the regulatory landscape. THE approval of more diversified ETFs could consolidate the role of cryptocurrencies as a class of essential assets in the global financial system.
BitWise advances with application for approval of diversified cryptocurrency ETF
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BitWise advances with application for approval of diversified cryptocurrency ETF
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BitWise advances with application for approval of diversified cryptocurrency ETF
