SEC Temporarily Suspends Approval of Bitwise 10 Crypto Index ETF Including BTC Amid Regulatory Review

On July 23, the U.S. Securities and Exchange Commission (SEC) granted preliminary approval for the Bitwise 10 Crypto Index Fund to transition into an exchange-traded fund (ETF). This fund encompasses a diversified portfolio of leading digital assets, including Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), Cardano (ADA), Sui (SUI), Chainlink (LINK), Avalanche (AVAX), Litecoin (LTC), and Polkadot (DOT). Despite this progress, the SEC emphasized that the authorization remains under review, with a temporary suspension in place pending further regulatory evaluation. This cautious stance echoes prior developments with the Grayscale Digital Large Cap Fund (GDLC), which initially received SEC approval but faced a subsequent launch suspension. Industry analysts suggest the SEC’s measured approach reflects ongoing efforts to implement uniform regulatory frameworks for cryptocurrency ETFs, particularly concerning assets like XRP and ADA that lack standalone ETF products. This regulatory scrutiny underscores the evolving landscape of digital asset investment vehicles within the U.S. financial markets.