In a groundbreaking move, the U.S. Securities and Exchange Commission (SEC) has approved asset management giant Bitwise's application to convert its Bitwise 10 Crypto Index Fund into a spot exchange-traded fund (ETF) — signaling a pivotal shift in regulatory stance toward digital assets.
✅ Which Cryptocurrencies Are Included in the Bitwise 10 Spot ETF?
Bitwise’s newly approved ETF aims to offer diversified exposure to the crypto market by combining 10 leading cryptocurrencies into a single, regulated investment vehicle. The fund includes:
Bitcoin ($BTC )
Ethereum ($ETH )
Ripple ($XRP )
Solana ($SOL)
Cardano (ADA)
Sui (SUI)
Chainlink (LINK)
Litecoin (LTC)
Polkadot (DOT)
Avalanche (AVAX)
The index follows a market-weighted allocation strategy, reflecting the relative size and influence of each digital asset.
📉 Immediate Market Reaction: Calm Before the Storm?
Despite the significance of this SEC approval, no immediate price surge was seen across the included cryptocurrencies. Experts suggest this is due to the ETF not being fully operational yet.
📊 Medium-Term Outlook: Surge in Institutional Activity Anticipated
Analysts forecast that the official trading launch of the ETF could trigger substantial increases in trading volume and institutional participation, especially from U.S.-based investors. Spot ETFs are known for offering a simplified, compliant pathway into crypto for large-scale investors and financial institutions.
⛔ SEC Imposes Temporary Hold — Another Hurdle
Although the approval was granted, the launch has been temporarily delayed. According to Bloomberg ETF analyst James Seyffart, one or more SEC commissioners have requested a pause in the rollout, similar to the earlier case with Grayscale’s GDLC fund.
🔁 Grayscale to Bitwise: The Rise of Hybrid Crypto ETFs
This marks the second major hybrid ETF approval in July, following the July 1st conversion of Grayscale's GDLC fund, which also featured a mix of top-tier altcoins like BTC, ETH, XRP, SOL, and ADA. This emerging trend suggests a softening of the SEC’s stance on multi-asset crypto ETFs — especially those with institutional backing.
📌 Final Thoughts: Is a New Era of Institutional Crypto Adoption Here?
The approval of Bitwise’s ETF may serve as a catalyst for broader institutional adoption of cryptocurrencies. While current regulatory delays have postponed the fund’s trading debut, market experts view it as a temporary regulatory procedure — not a rejection.
Once active, the Bitwise 10 Spot ETF could open the doors for millions of U.S. investors seeking regulated, diversified access to the digital asset market.
