The Bitwise 10 Crypto Index Fund (BITW), a $1.25 billion fund tracking the 10 largest digital assets, has received SEC approval to begin trading as an exchange-traded product (ETP) on NYSE Arca. This marks the second U.S. multi-asset crypto index to obtain full ETP status after Grayscale’s approval in July.

BITW offers diversified exposure to leading cryptocurrencies—such as Bitcoin, Ether, Solana, and XRP—and is rebalanced monthly. Bitwise executives called the approval a “watershed moment,” noting it aligns crypto index products with traditional commodity-style ETPs and may accelerate institutional adoption.