Bitwise Asset Management, a pioneer in crypto investment solutions, has filed with the U.S. Securities and Exchange Commission (SEC) to introduce an exchange-traded fund (ETF) based on its 10 Crypto Index Fund, a product it has managed since 2017.
The ETF is designed to provide regulated access to a diversified portfolio of cryptocurrencies. The fund is heavily weighted in Bitcoin (75.14%) and Ethereum (16.42%), which together make up over 90% of its holdings. Other assets include Solana (4.30%), XRP (1.50%), and Cardano (0.70%), with smaller allocations to Avalanche, Chainlink, Bitcoin Cash, Polkadot, and Uniswap. To ensure stability and reliability, Bitwise enforces strict criteria for inclusion, such as stable trading volumes and secure custody, and excludes speculative assets with a price below $0.01 for 30 consecutive days. The digital assets will be safeguarded by Coinbase Custody, while The Bank of New York Mellon will manage the fund’s cash and administrative operations.
Bitwise submitted its ETF application on Nov. 27, 2024, marking another step in its efforts to expand its regulated crypto offerings. The SEC has yet to set a deadline for its decision, leaving the timeline for approval uncertain.
If approved, the ETF will be listed on NYSE Arca, making it accessible through traditional brokerage accounts and broadening exposure to a wider range of investors, from retail traders to institutions.
Bitwise’s filing reflects growing interest in regulated crypto investment products amid increasing institutional adoption and a more favorable regulatory environment. By offering a diversified crypto ETF, the company aims to simplify access to digital assets while addressing security and compliance concerns.
The ETF application builds on Bitwise’s recent initiatives, including filings for Solana and XRP-focused ETFs and its earlier applications for spot Bitcoin and Ether ETFs. Using trusted custodial and financial partners like Coinbase Custody and The Bank of New York Mellon, Bitwise ensures the fund is robustly managed. If approved, the ETF would provide investors with a secure and regulated way to participate in the growing crypto market, further bridging the gap between traditional finance and digital assets.
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