SEC

The U.S. Securities and Exchange Commission (#SEC ) has taken another significant step in addressing the growing interest in cryptocurrencies. Asset management giant Bitwise has received official approval from the SEC for its application to convert its Bitwise 10 Crypto Index Fund into a spot exchange-traded fund (ETF).
✅ Which Cryptocurrencies are included in the Fund?
Bitwise's ETF-convertible fund offers a broad selection of 10 major cryptocurrencies. The fund consists of the following:
Bitcoin (BTC)
Ethereum (ETH)
Ripple ($XRP )
Solana ($SOL )
Cardano ($ADA )
Sui (SUI)
Chainlink (LINK)
Litecoin (LTC)
Polka Dot (DOT)
Avalanche (AVAX)
This ETF will combine the top 10 digital assets in the crypto market, offering diversified crypto investments through a single product. The index operates on a weighted system based on market segments.
📉 Initial Impact: Price Silence
While the SEC's revelation was significant news for the market, no significant price movement was observed in the cryptocurrencies included in the fund in the initial minutes. Analysts suggest this is because the ETF has not yet resumed trading.
📊 Medium-Term Impact Expected
According to experts, the fund's active launch could lead to a significant increase in trading volumes for these 10 cryptocurrencies. Spot ETFs, an investment vehicle that provides easier access to institutional knowledge, are said to offer an attractive entry point, particularly for registration in the US.
⛔Shown! SEC Puts New Curb Approach
Although the SEC has approved the application, another obstacle has emerged before the fund can begin operating. According to Bloomberg ETF analyst James Seyffart, similar to the approval granted to Grayscale's GDLC fund, Bitwise's fund has been temporarily suspended at the request of one or more SEC members.
Bitwise's 10 Index Funds have received approval, but as with Grayscale's GDLC fund earlier this month, Bitwise's participation in the ETF has been halted at the request of one or more SEC commissioners. In other words, the fund cannot yet be considered an ETF. –James Seyffart
🔁 First Grayscale, Now Bitwise: A New Link to the Hybrid ETF Trend
The Bitwise ETF clone is the second hybrid ETF clone to follow the July 1st conversion of Grayscale's fund, which included BTC, ETH, XRP, SOL, and ADA, into a spot ETF. This development signals the SEC's adoption of a softer stance on hybrid cryptocurrency baskets.
📌 Conclusion: Are Institutional Waves Coming?
Bitwise's ETFs could herald a new era for cryptocurrencies. These institutionally offered products, in particular, will further solidify cryptocurrencies' place in the traditional financial world.
While the stop-loss cancellation delays the fund's start of trading, analysts believe it's only a temporary hold. Once complete, Bitwise could make the ETF accessible to a much broader investor base.
#xrp #sol #ADA #TrumpBitcoinEmpire

Ủy ban Chứng khoán và Giao dịch Hoa Kỳ (SEC) vừa can thiệp để tạm dừng việc chuyển đổi quỹ ETF Bitwise 10 Crypto Index, chỉ vài giờ sau khi được nhân viên cấp phép. Đây là lần thứ hai trong tháng này SEC chặn một khuyến nghị đã được cấp phép ở cấp nhân viên.

Động thái này, cũng như trường hợp của Grayscale Digital Large Cap Fund (#GDLC ) trước đó, đã khiến các nhà quan sát thị trường ETF tiền điện tử lo ngại. Việc tạm dừng cho thấy có sự phản đối nội bộ đối với các sản phẩm crypto rộng hơn.
Nate Geraci, đồng sáng lập The ETF Institute, gọi đây là "tình huống kỳ lạ", bày tỏ rằng cả hai quỹ đều nên được phép chuyển đổi/niêm yết càng sớm càng tốt. Lệnh tạm dừng được kích hoạt theo Quy tắc 431, cho phép toàn bộ Ủy ban #SEC xem xét bất kỳ quyết định nào của nhân viên dưới quyền ủy quyền. Khi được áp dụng, quy tắc này tự động đình chỉ phê duyệt cho đến khi Ủy ban quyết định xác nhận, sửa đổi hoặc lật ngược quyết định đó, mà không cần đưa ra lý do công khai hay thời hạn cụ thể.
Tình trạng này đặt các nhà phát hành ETF vào tình thế khó xử: được nhân viên phê duyệt nhưng bị Ủy ban chặn vô thời hạn. Grayscale đã cảnh báo rằng việc trì hoãn này đang khiến nhà đầu tư "chịu thiệt hại" và có thể dẫn đến hành động pháp lý.
ETF của Bitwise được thiết kế để theo dõi chỉ số dựa trên vốn hóa thị trường của mười tài sản crypto lớn nhất (trừ stablecoin và wrapped tokens), mang lại cho nhà đầu tư khả năng tiếp cận đa dạng với thị trường tài sản kỹ thuật số. Trước khi bị tạm dừng, các bình luận công khai về ETF của Bitwise đã nêu lên rủi ro thao túng thị trường và độ tin cậy của dữ liệu giá crypto.

📅 July 23, 2025 | Washington, D.C., USA
What seemed like a historic victory for crypto adoption on Wall Street has just received a cold shower: Bitwise Asset Management, one of the best-known digital asset managers in the US, is evaluating the SEC's pause on its crypto index fund, initially approved just a few weeks ago, The Block revealed.
The announcement confirms that the Securities and Exchange Commission (SEC) suddenly halted the full launch of the product, generating legal and market uncertainty just as retail and institutional investors were ready to inject millions.
What exactly happened?
In June, the SEC had given a preliminary green light to the Bitwise Crypto Index Fund, designed to offer diversified exposure to a basket of leading digital assets (BTC, ETH, and large-cap DeFi tokens) without requiring investors to directly hold custody of the crypto assets.
However, internal sources cited by The Block claim that the agency suspended the final authorization, citing:
🔹 Concerns about the liquidity structure of some tokens.
🔹 Fears of market manipulation linked to small-cap assets included in the index.
🔹 Lack of clear custody and disclosure guarantees for retail investors.
What will Bitwise do now?
According to statements from the Bitwise team:
“We are committed to working closely with the SEC to resolve any concerns and provide the necessary transparency for regulators and our customers.”
In other words: Bitwise isn't throwing in the towel yet, but the pause threatens to indefinitely delay the launch of a product that promised to democratize crypto investing for thousands of pension funds, financial advisors, and retail traders.
Why does it matter so much?
This index fund had become a symbol of the institutionalization of the crypto ecosystem:
It allowed traditional investors to gain exposure to crypto with the simplicity of an ETF. It added new liquidity to mid-market assets in the ecosystem. It competed directly with ETF futures and more restrictive products.
A prolonged pause cools Wall Street's appetite and sends a signal that, while the SEC is showing more flexibility with Bitcoin and Ethereum, middle-layer tokens and DeFi remain in its crosshairs.
Figures that make a difference
Bitwise expected to capture more than $500 million in net inflows during the first six months of operation. Now, those funds are on hold, and some are already exploring alternatives in BTC/ETH spot ETFs or staking funds.
Topic opinion:
This blow shows the fragility of the bridge between crypto and Wall Street. Every regulatory advance is accompanied by setbacks that test the patience of investors and the resilience of crypto companies.
Bitwise has the muscle to renegotiate, but the SEC continues to make it clear that any token other than BTC or ETH will be scrutinized down to the last byte.
💬 Do you think the SEC is blocking innovation or doing the right thing to protect investors?
Leave your comment...
#Bitwise #SEC #defi #blockchain #CryptoNews $BTC

Citadel Securities has issued a formal warning to the U.S. Securities and Exchange Commission (SEC), urging the agency to immediately slow down the rollout of tokenized equities. In a letter sent to the SEC’s crypto task force, the trading giant argues that the rapid expansion of these blockchain-based securities could confuse investors, distort market fairness, and undermine the traditional IPO system.

🧩 Tokenization Without Clear Rules? A Recipe for Confusion
Citadel warns that tokenized securities—digital representations of stocks or assets traded on blockchain networks—are being introduced too quickly and without sufficient regulatory oversight. The firm believes this opens the door to regulatory loopholes that could benefit certain platforms like Coinbase or Robinhood while leaving traditional players at a disadvantage.
The letter emphasizes that such a shift could weaken the fragile IPO market. By offering private firms a backdoor route to capital without going public, tokenization could further drain activity from the public equities space.

⚠️ Risk for Pension Funds and Banks
Another concern raised is that pension funds, banks, and other major financial institutions may not be allowed to hold crypto assets due to internal policies or fiduciary restrictions. A mass shift toward tokenized securities could exclude these institutions from the market entirely.
"True innovation means offering better tools—not shortcutting the rules," the firm stated, emphasizing that tokenized products must succeed based on genuine merit, not through regulatory arbitrage.

💼 SEC Quiet So Far, But Big Changes Loom
The SEC declined to comment on the letter. However, new SEC Chairman Paul Atkins has signaled a clear departure from his predecessor Gary Gensler’s aggressive enforcement approach.
Atkins is now exploring the possibility of a “sandbox exemption” that would allow firms to experiment with tokenized securities without being subject to all existing rules. He’s also reviewing more targeted changes to support blockchain trading infrastructure.

🏛️ Stablecoin Law Reshapes the Debate
The debate comes just days after Congress passed—and President Trump signed—a landmark stablecoin law, requiring issuers to back tokens with cash or short-term government securities. The law offers regulatory clarity for dollar-pegged digital assets and is hailed by supporters as a key step toward legitimizing crypto markets, which could grow from $265 billion to $3 trillion by 2030.
Still, not everyone is on board. Senator Elizabeth Warren warned that the law falls short of protecting consumers, even as others celebrate it as a turning point.

#SEC , #Regulation , #DigitalAssets , #CryptoNews , #blockchain

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$July 23, 2025 – In a surprising twist, the U.S. Securities and Exchange Commission (SEC) has halted Bitwise’s long-awaited 10 Crypto Index ETF just days after its approval — and merely a week after rejecting a similar product from Grayscale.

The sudden move is fueling confusion and speculation across the crypto industry.

📌 What Happened?

Bitwise’s 10 Crypto Index ETF was initially greenlit by the SEC, signaling a major win for diversified crypto investment products in the U.S. market. However, in a bizarre follow-up, the SEC issued a stay order — effectively freezing its launch and leaving investors and analysts puzzled.

This comes on the heels of the SEC rejecting Grayscale’s mixed crypto asset ETF, marking two contradictory rulings within the same month.

🔍 Why It Matters

Institutional Trust Issues: Frequent policy flip-flops from the SEC shake investor confidence in the U.S. regulatory system.
Market Uncertainty: ETF products are key for mainstream adoption. Reversals like this delay innovation and clarity.
Industry Response: Crypto leaders are calling for more transparent guidelines as ETF demand continues to rise.

🧠 Bitwise’s Edge

The Bitwise 10 ETF aims to track the top 10 crypto assets by market cap, excluding stablecoins. It’s seen as a balanced, low-risk way for traditional investors to gain crypto exposure.

Unlike Grayscale’s broader fund, Bitwise’s product has a reputation for clean structuring and regular rebalancing — making the SEC's reversal even more confusing.

📉 Market Reaction

Following the announcement:

BITW (Bitwise's stock) dipped slightly, but investors are holding for clarity.
Crypto Twitter exploded with criticism of SEC inconsistency.
Analysts speculate this could pressure the agency toward clear ETF frameworks in Q3 2025.

🚨 Final Thoughts

The SEC’s back-and-forth decisions on crypto ETFs are hurting credibility more than helping investor protection. With products like Bitwise’s already meeting high standards, the crypto industry is demanding transparency and long-term regulatory consistency.

Stay tuned — this isn’t over.
$BNB
#CryptoClarifyACT #SECCrypto #SEC