SEC Pauses Bitwise 10 Crypto Index Fund’s ETF Approval
- SEC grants initial approval, then halts Bitwise’s ETF conversion.
- No immediate comments from Bitwise leadership.
- Paused approval impacts potential inflows into certain cryptocurrencies.
Bitwise’s ETF approval pause reflects ongoing SEC regulatory deliberations, contributing to market uncertainty.
The SEC approved Bitwise 10 Crypto Index Fund’s conversion into an ETF on July 22, 2025, but quickly paused the approval for review. This decision halts the transition of the fund into an exchange-traded format.
Key figures include Bitwise’s leadership and SEC Assistant Secretary Sherry Haywood, who issued the pause. Sherry Haywood signed the order to stay the approval, indicating ongoing regulatory evaluation.
“The ‘order is stayed until the Commission orders otherwise,’ and the ‘Commission will review the delegated action’” – Sherry Haywood, SEC Assistant Secretary.
The pause affects market expectations for coins like XRP, seldom in U.S. ETFs. Pausing disrupts anticipated capital flow and raises concerns over regulatory clarity in the U.S. cryptocurrency landscape.
This pause follows similar actions involving entities such as Grayscale’s ETF, showing an inconsistent regulatory approach towards multi-asset crypto ETFs. Market adaptive strategies are curbed under SEC reviews, affecting those heavily reliant on ETF acceptance.
Historical trends suggest delays complicate the market environment for cryptocurrencies planned for ETF inclusion. Bitwise ETF’s potential would offer exposure to diverse assets, but regulatory pauses hinder such financial innovations.
