Bitwise 10 Crypto Index Fund secures SEC nod to trade as NYSE Arca ETP

Superstate has launched Onchain Direct Issuance Programs for SEC-registered companies, enabling them to issue tokenized shares on the Solana and Ethereum blockchains. This initiative allows for stablecoin payments and instant issuance, marking a significant advancement in blockchain-based capital raising.

Cathie Wood, CEO of Ark Invest, has indicated that Bitcoin may be entering a new phase as institutional players increasingly buy and hold the cryptocurrency, potentially reducing its historical price volatility. This shift follows the recent halving event on April 20, 2024, which decreased the daily supply of Bitcoin by approximately 450 coins, a factor that could influence market dynamics.

In the past six months, five banks have approved Bitwise exchange-traded products (ETPs) for wealth management, indicating a growing acceptance of cryptocurrency in traditional finance. This move is seen as a significant step towards integrating digital assets into mainstream investment portfolios.

Bitwise has launched the Bitwise 10 Crypto Index ETF (BITW) on the New York Stock Exchange, enabling investors to gain exposure to a diverse portfolio of ten cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and XRP. This marks a significant step in making cryptocurrency investments more accessible through a regulated exchange.

Senators engaged in bipartisan discussions regarding the anticipated crypto market structure bill, with Senator Cynthia Lummis expressing optimism for a new draft to be released soon. The discussions are aimed at finalizing the legislation before Congress adjourns for the holiday break. Lummis highlighted the urgency of progressing with the bill during a panel hosted by the Blockchain Association.

Nicholas Wealth has submitted a proposal for a new exchange-traded fund (ETF) named 'Bitcoin After Dark' to the SEC, which is designed to operate exclusively during nighttime hours. This innovative strategy aims to capitalize on potential market movements that occur after traditional trading hours.

Bitwise's crypto index fund has transitioned from over-the-counter markets to NYSE Arca for trading, signifying a significant move towards integrating diversified digital asset products into regulated exchanges. This shift is expected to enhance the visibility and accessibility of cryptocurrency investments for a broader audience.

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.