Bitwise Asset Management has filed an application with the U.S. Securities and Exchange Commission (SEC) for a new exchange-traded fund (ETF) that would track an index of the 10 largest cryptocurrencies. The proposed ETF aims to provide diversified exposure to a broad range of digital assets, including Bitcoin, Ether, and other top-performing tokens, offering investors a simplified way to participate in the cryptocurrency market.
Dubbed the Bitwise Crypto Index ETF, the fund would be rebalanced monthly to reflect the dynamic nature of the market. If approved, it will trade on NYSE Arca and employ robust measures to address concerns around market manipulation and liquidity. The filing represents Bitwise’s latest effort to bring regulated crypto investment products to mainstream investors, building on its previous applications for spot Bitcoin and Ether ETFs.
The initiative comes as demand for diversified crypto investment options continues to rise. Unlike single-asset ETFs, which focus solely on Bitcoin or Ether, a multi-asset index fund offers a more balanced exposure, reducing reliance on the performance of any one token. Bitwise believes this approach could attract a wider range of investors, particularly those seeking to mitigate risk while gaining exposure to the overall crypto market’s growth.
However, the approval process remains uncertain as the SEC has yet to grant the green light for any spot crypto ETFs. While recent developments suggest a shift in regulatory attitudes, Bitwise and other asset managers face rigorous scrutiny. The filing reflects the industry’s determination to address these challenges, positioning crypto ETFs as a bridge between traditional finance and the evolving digital asset space.
