SEC Delays Decision on Bitwise 10 Crypto Index ETF Application Until March 2025

The U.S. Securities and Exchange Commission (SEC) has once again postponed its decision on the much-anticipated Bitwise 10 Crypto Index ETF, now pushing the deadline to March 3, 2025. While this delay is far from unexpected, it raises important questions about the future of crypto investment products. Is this a denial?

Keep reading to find out.

Bitwise’s Crypto ETF Proposal

The Bitwise ETF aims to track the performance of the top 10 cryptocurrencies by market capitalization, including Bitcoin, Ethereum, Solana, and XRP. The fund, valued at $1.4 billion, has been trading on the OTCQX Best Market since 2017. Now, Bitwise wants to list the ETF on the NYSE Arca, offering investors a regulated way to access these major digital assets.

Why the SEC Is Being Cautious

The delay, while expected by many in the industry, highlights the SEC’s cautious approach to approving crypto-based investment products. According to the SEC’s process, it must make a decision within 45 days after the proposal is published in the Federal Register. The original deadline was January 17, 2025, but it has now been extended to March.

Delay Was No Surprise!

Bloomberg ETF analyst James Seyffart said the delay was no surprise, noting on Twitter that the SEC would likely need more time to evaluate these proposals. He also suggested that the SEC might delay its decision on another major crypto fund, Grayscale’s GDLC, which has a February deadline.

Despite the delays, many in the industry are hopeful. Some believe that ETF approvals could move faster after President-elect Trump’s inauguration.

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Crypto analyst Marty Party remarked,

Expect all these ETF applications to be approved shortly after Trump’s inauguration.

What’s at Stake for Crypto Investment?

If approved, the Bitwise 10 Crypto Index ETF would be a significant step forward for cryptocurrency investments, potentially attracting more institutional interest. Bitwise is also working on other crypto-related funds, including one focused on companies with large Bitcoin holdings.

The road to ETF approval may be long, but the impact on the cryptocurrency market could be well worth the wait.