Bitwise crypto index fund moves from over-the-counter to NYSE Arca for trading

The SEC has approved the Bitwise 10 Crypto Index Fund, which is now trading on NYSE Arca, marking the second cryptocurrency index exchange-traded product (ETP) in the U.S. This fund allows investors to gain exposure to a diversified portfolio of major cryptocurrencies, including Bitcoin, Ethereum, and XRP.

Shiba Inu has experienced a significant increase in spot trading volume across major exchanges, including a 154% rise on Kraken over the past week, indicating a potential bullish trend for the second-largest meme coin by market cap. This surge comes as the broader cryptocurrency market faces declines, suggesting that buyers are stepping in to support the SHIB price at critical levels.

The Bitwise 10 Crypto Index ETF has officially debuted on NYSE Arca, providing investors with exposure to major cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), and XRP through a market-cap weighted fund. This launch represents a significant milestone in the growing acceptance of cryptocurrency investment vehicles in traditional finance.

XRP Spot ETFs have reached a significant milestone, nearing $1 billion in assets under management (AUM) in under four weeks since their launch, according to Ripple's CEO, Brad Garlinghouse. The total net assets across four XRP ETF products currently stand at approximately $1.23 billion, with a recent inflow of $30 million reported on December 8, bringing cumulative net inflows close to $935 million.

Bitwise Chief Investment Officer Matt Hougan has stated that the growing complexity of the cryptocurrency market will lead to increased popularity of wide crypto-tracking index funds. This trend reflects a shift in investor behavior as they seek diversified exposure to the evolving digital asset landscape.

XRP's price has been trading sideways, remaining just above the $2 mark, which has negatively impacted the performance of the U.S. spot ETFs linked to the altcoin. Since its launch, Canary Capital's XRP fund has seen a 20% decline, reflecting bearish sentiment among investors as XRP has dropped over 10% in the past month.