SEC Delays Decision on Bitwise 10 Crypto ETF, Sets New Deadline for March 2025

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The U.S. Securities and Exchange Commission (SEC) has officially postponed its decision on the Bitwise 10 Crypto Index Exchange-Traded Fund (ETF), extending its review period to March 3, 2025. This delay allows the regulatory body additional time to conduct a thorough evaluation of the proposed fund’s structure, market impact, and compliance with investor protection standards.

Why the SEC Is Taking More Time

The SEC's extension is not uncommon in the evolving landscape of crypto-based financial products. Under federal regulations, the commission is required to act on listing proposals within 45 days of their publication in the Federal Register. The original deadline for the Bitwise 10 Crypto ETF was January 17, 2025, but the agency has now exercised its authority to push that date further.

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This additional review window enables the SEC to assess potential risks related to market manipulation, custody solutions, and price transparency—key concerns when evaluating cryptocurrency-linked ETFs. While no public comments were submitted during the initial comment period, the agency often uses these extensions to internally consult with legal, economic, and enforcement divisions.

What Is the Bitwise 10 Crypto Index ETF?

The Bitwise 10 Crypto Index Fund is designed to track the performance of the ten largest cryptocurrencies by market capitalization. Unlike single-asset ETFs such as those focused solely on Bitcoin or Ethereum, this diversified product offers exposure to a broader segment of the digital asset market.

The current index components include:

Launched in 2018 as a private trust, the fund has evolved significantly over the years. In November 2024, NYSE Arca filed an application with the SEC to convert this existing product into a fully tradable ETF listed on a national securities exchange. The goal is to provide retail and institutional investors with regulated, transparent access to a diversified basket of leading cryptocurrencies.

Market Reaction and Analyst Predictions

Market observers were largely unsurprised by the delay. Bloomberg ETF analyst James Seyffart noted on social media that the postponement aligns with the SEC’s historical pattern when dealing with complex crypto proposals.

“As expected, the SEC has punted/delayed the decision on BitwiseInvest’s filing to convert the Bitwise 10 Crypto Index Fund (BITW) into an ETF. Final deadline is in late July,” Seyffart commented.

Seyffart also predicted similar delays for Grayscale’s proposed GDLC fund, which targets a February 2 decision date. His analysis underscores a broader trend: the SEC continues to approach multi-asset crypto ETFs with caution, even after approving several spot Bitcoin and Ethereum ETFs in recent months.

Meanwhile, some crypto advocates remain optimistic about future approvals. Analyst Marty Party suggested that political shifts could accelerate regulatory momentum.

“Expect all these to be approved shortly after Trump inauguration,” Party stated, pointing to speculation about a potentially more crypto-friendly administration in 2025.

While political influence remains uncertain, what's clear is that each delay does not equate to rejection—it often reflects procedural rigor rather than outright opposition.

Core Keywords Driving Interest

This development highlights several key themes shaping today’s digital asset ecosystem:

These keywords reflect both investor curiosity and search behavior around regulatory milestones in the crypto space. As interest grows in diversified exposure beyond Bitcoin, products like the Bitwise 10 become increasingly relevant.

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Recent Developments at Bitwise

Beyond the ETF filing, Bitwise has been actively expanding its product suite. In December 2024, the firm submitted a registration statement to launch the Bitcoin Standard Corporations ETF, a novel fund targeting companies that hold significant Bitcoin reserves on their balance sheets.

This new ETF would invest in public corporations like MicroStrategy, Tesla, and Marathon Digital Holdings—firms recognized for treating Bitcoin as a strategic treasury asset. By linking traditional equity investing with corporate crypto adoption, Bitwise aims to bridge institutional finance and blockchain innovation.

This move reflects a growing trend known as "Bitcoin corporate adoption," where companies diversify cash holdings into digital assets amid inflation concerns and evolving monetary policy.

Frequently Asked Questions (FAQ)

Why did the SEC delay the Bitwise 10 Crypto ETF decision?

The SEC extended its review to ensure a comprehensive assessment of market risks, custody arrangements, and investor protections. Such delays are standard procedure for novel financial instruments involving digital assets.

What cryptocurrencies are included in the Bitwise 10 Index?

The index tracks the top ten cryptocurrencies by market cap: Bitcoin (BTC), Ethereum (ETH), Solana (SOL), XRP, Cardano (ADA), Avalanche (AVAX), Chainlink (LINK), Bitcoin Cash (BCH), Polkadot (DOT), and Uniswap (UNI).

Could this ETF be approved in 2025?

Yes. With a new deadline set for March 3, 2025, approval remains possible if the SEC determines the proposal meets federal securities laws and protects investors.

How does this differ from a spot Bitcoin ETF?

Unlike single-asset ETFs, the Bitwise 10 offers diversified exposure across multiple major cryptocurrencies, reducing reliance on any one digital asset’s performance.

Will political changes affect crypto ETF approvals?

While regulatory agencies operate independently, shifts in administration can influence long-term policy direction. Some analysts believe a more crypto-supportive government could expedite pending applications.

Is investing in a crypto index fund risky?

All investments carry risk. Cryptocurrency markets are volatile, and regulatory uncertainty persists. However, ETFs offer structured exposure with daily liquidity and oversight compared to direct crypto ownership.

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Looking Ahead: The Future of Crypto ETFs

The Bitwise 10 Crypto Index ETF represents a critical step toward mainstream acceptance of digital assets. If approved, it would be among the first diversified spot crypto ETFs available to U.S. investors—a milestone comparable to the launch of early equity index funds.

As regulatory scrutiny continues, firms like Bitwise are setting precedents through transparency, rigorous filings, and alignment with SEC expectations. Whether approval comes in March or later in 2025, each phase of this process strengthens the foundation for broader crypto integration into traditional finance.

For investors seeking diversified access to high-potential digital assets within a regulated framework, products like this could soon become essential tools in modern portfolios.