According to PANews, Bitwise has submitted an application to the U.S. Securities and Exchange Commission (SEC) to launch an exchange-traded fund (ETF) based on its index fund of ten cryptocurrencies. If approved, this ETF would be the most diverse and comprehensive cryptocurrency ETF available in the U.S. market.
The proposed fund includes a range of cryptocurrencies such as Bitcoin, Ethereum, Solana, XRP, Cardano, Avalanche, Chainlink, Bitcoin Cash, Polkadot, and Uniswap. Bitwise has maintained this initial fund since 2018, aligning its value with these ten leading cryptocurrencies.
The SEC has officially acknowledged receipt of the application, initiating the countdown for the commission to decide whether to approve or reject the proposal. However, the deadline for the decision on this application has not yet been determined.