Bitwise has filed a proposal with the U.S. Securities and Exchange Commission (SEC) for the launch of a new cryptocurrency exchange-traded fund (ETF) that would offer investors exposure to a broad spectrum of digital assets. If greenlit, the proposed fund would become the most diverse cryptocurrency ETF available in the U.S. market.
The ETF is designed to track an index consisting of ten prominent cryptocurrencies, including Bitcoin, Ethereum, Solana, XRP, Cardano, Avalanche, Chainlink, Bitcoin Cash, Polkadot, and Uniswap. Bitwise has been managing an index fund featuring these same assets since 2018, ensuring that the proposed ETF is rooted in a tried-and-tested investment strategy focused on leading digital currencies.
The SEC has confirmed receipt of Bitwise’s application, officially starting the clock on its review process. While the commission has yet to set a firm deadline for its decision, the outcome of the proposal could significantly impact the future of cryptocurrency investments in the United States.
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