Bitwise files 10 crypto ETF proposal: A new move for U.S. crypto investors?
The post Bitwise files 10 crypto ETF proposal: A new move for U.S. crypto investors? appeared on BitcoinEthereumNews.com.
Bitwise submits a 10 Crypto Index ETF proposal to the SEC for approval. Crypto ETFs gain momentum as competition among asset managers intensifies in the U.S. market. Bitwise Asset Management has made significant strides in expanding its cryptocurrency offerings, officially submitting the 10 Crypto Index ETF proposal to the U.S. Securities and Exchange Commission (SEC). Details of the Bitwise crypto ETFs Partnering with the New York Stock Exchange (NYSE), the firm advanced the application process earlier this month with the filing of a 19b-4 form, now acknowledged by the SEC. If approved, this would mark the introduction of the most comprehensive and diversified crypto ETF in the U.S. market. Alongside this, Bitwise recently filed for a Solana [SOL] ETF, joining the ranks of other industry players like Canary Capital, VanEck, and 21Shares. The proposed fund is structured to include top-tier digital assets such as Bitcoin [BTC], Ethereum [ETH], Solana, Ripple [XRP], and Cardano [ADA], reflecting Bitwise’s long-standing commitment to tracking the market’s most valuable cryptocurrencies. Remarking on the same, influencer Big Pey took to X and noted, “Remember when I was speculating that ADAs HUGE price movement was from someone purchasing ADA for an ETF? NYSE Arca just submitted a filing to the SEC to launch a Bitwise 10 Crypto Index Fund with Cardano as the fifth largest asset. I imagine Coinbase will follow, first of many.” What’s more? That being said, the Crypto Index ETF proposed by Bitwise offers a meticulously balanced composition of digital assets, with Bitcoin commanding a dominant 75.14% share, followed by Ethereum at 16.42% and Solana at 4.3%. Other assets, including XRP, Cardano, Avalanche, Chainlink, Bitcoin Cash, Uniswap, and Polkadot, collectively form the remaining portion of the fund, with allocations ranging from 1.56% to 0.30%. To calculate its Net Asset Value (NAV) at the close…
Filed under: News - @ November 28, 2024 11:23 am