Catenaa, Tuesday, July 29, 2025- Bitwise Asset Management is “actively evaluating” the US Securities and Exchange Commission’s unexpected decision to stay the approval of its crypto index ETF, just one day after receiving accelerated authorization to list and trade the fund.
In a statement Wednesday, a Bitwise spokesperson expressed optimism over the SEC’s initial greenlight, calling it “an accelerated approval,” but acknowledged the pause as a “new development” requiring internal review.
The spokesperson added Bitwise remains encouraged by recent constructive engagement with regulators under the Trump administration.
The fund in question, the Bitwise 10 Crypto Index Fund (BITW), offers market-cap-weighted exposure to major cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), and Polkadot (DOT), among others.
The SEC’s reversal marks the second instance of an ETF approval being halted for review.
A similar action was taken against Grayscale’s proposed conversion of its Digital Large Cap Fund, which was initially approved but later stayed.
The pause arrives amid a wave of ETF activity in the crypto space, with the SEC currently reviewing multiple new filings, including products tied to Solana, Dogecoin, and crypto index funds, as the regulatory tone has shifted under the new administration.
