The United States Securities and Exchange Commission has approved the conversion of the Bitwise 10 Crypto Index Fund into a regulated exchange-traded fund (ETF). This marks a significant step toward institutional access to diversified cryptocurrency exposure under a familiar investment structure.
A Regulated Basket of Top Digital Assets
The new ETF will track the performance of the Bitwise 10 Large Cap Crypto Index, which includes the following cryptocurrencies:
- Bitcoin (BTC)
- Ethereum (ETH)
- Ripple (XRP)
- Solana (SOL)
- Cardano (ADA)
- Sui (SUI)
- Litecoin (LTC)
- Polkadot (DOT)
- Chainlink (LINK)
- Avalanche (AVAX)
The fund is designed to reflect the market capitalization and liquidity of the ten largest digital assets. It will be rebalanced monthly and allows in-kind creations and redemptions, providing tighter spreads and greater efficiency for both retail and institutional investors.
A Milestone for Multi-Asset Crypto ETFs
Until now, ETF approvals in the United States were limited to single assets like Bitcoin and Ethereum. This green light for a multi-token ETF represents a broader regulatory shift. By offering a diversified portfolio in a single, regulated product, Bitwise opens the door for investors to gain exposure to the crypto market without the complexity of managing multiple tokens individually.
Institutional-Grade Infrastructure
Bitwise has partnered with major custodians and service providers to support the ETF. Digital assets will be held by Coinbase Custody, while BNY Mellon will serve as cash custodian and administrator. This structure brings the fund in line with traditional financial products while maintaining compliance with U.S. securities laws.
What Comes Next
The ETF will be listed on NYSE Arca. Analysts expect trading to begin shortly, pending operational rollout. Market participants are watching closely to see whether this approval paves the way for other diversified crypto products in the U.S.
Sources: SEC filings, Binance News, Bitwise official disclosures, Charltons Quantum, Bloomberg Crypto
