🚨 Breaking Crypto News! SEC Hits the Brakes on Altcoin ETFs! 🚨
The SEC is showing major caution today, July 23, 2025, halting the conversion of Bitwise's 10 Crypto Index Fund into a spot ETF! 🛑
This fund includes XRP, Solana, Cardano and Polygon, indicating a tougher stance on altcoin ETFs beyond BTC and ETH.
What's happening? 🤔
- Bitwise ETF Halted: Just hours after initial approval, the SEC paused Bitwise's multi-crypto ETF conversion, citing concerns over XRP and other altcoins.
- In-Kind Redemption Delays: Major players like BlackRock and Fidelity are also seeing delays on in-kind redemptions for their crypto ETFs. The SEC wants more clarity on fraud prevention. 🛡️
- Altcoin ETF Scrutiny: This move signals a more cautious approach to altcoin ETF approvals in general. Dedicated spot ETFs for coins like XRP and SOL might face further delays.
While Bitcoin and Ethereum ETFs have gained ground, the regulatory landscape for broader crypto exposure is still complex. ⚖️
What are your thoughts on this? Will we see more delays for altcoin ETFs? Let us know in the comments! 👇
