SEC Delays Decision on Bitwise’s Crypto Index ETF
The decision by the US Securities and Exchange Commission (SEC) regarding Bitwise’s proposed crypto index exchange-traded fund (ETF) has been postponed to March of this year.
Bloomberg ETF analyst James Seyffart revealed on social media that the SEC is extending its evaluation period for Bitwise’s 10 Crypto Index Fund (BITW) to potentially become an ETF. Seyffart notes that this delay was anticipated and the final decision is now expected in July.
He also mentions that crypto company Grayscale is also seeking to transform its Digital Large Cap (GDLC) into an ETF, but it is likely to face a delay from its original target date of February 2nd.
Currently, the SEC has only approved ETFs linked to the top two digital assets, Bitcoin and Ethereum. A recent memo from the SEC states that they require more time to thoroughly consider Bitwise’s proposed rule change.
