- The green light from the SEC for Bitwise’s ETF underscores the rising interest in digital currencies, Bitcoin in particular, from established investment firms.
- Even with a temporary regulatory hold, the authorization of the Bitwise 10 Crypto Index ETF is viewed as a positive indicator for Bitcoin, potentially leading to increased investment from institutional players.
Following an update from Crypto News Flash (CNF), Bitwise has officially submitted its S-1 form to the U.S. Securities and Exchange Commission (SEC), with the goal of launching a NEAR ETF. The SEC has given its approval for Bitwise Asset Management to transform its Bitwise 10 Crypto Index Fund (BITW) into a fully operational exchange-traded fund (ETF).
Specifically, this new ETF is designed to offer investors a diversified portfolio comprising the top ten cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), Cardano (ADA), Sui (SUI), Chainlink (LINK), Avalanche (AVAX), Litecoin (LTC), and Polkadot (DOT), based on available reports.
Furthermore, market observers suggest that the temporary pause provides the SEC with an opportunity to standardize the rules for listing crypto ETFs, potentially reducing the approval timeframe from 240 days to approximately 75 days, as indicated earlier this month. This information was officially communicated by the U.S. Securities and Exchange Commission (SEC) in their public document released on July 22, 2025.
The SEC’s decision to expedite approval, followed by a pause, highlights both the increasing acceptance of crypto ETFs and the need for regulatory oversight.
Earlier, crypto analyst Kyle Chassé pointed out on X that alternative cryptocurrencies (altcoins) are gaining traction, with the Altcoin Season Index climbing from 35 to 50. This suggests that the delay in the ETF launch coincides with a period of heightened investor interest in altcoins.
Unsurprisingly, the temporary hold has caused some level of disappointment among investors and analysts, who view it as a minor setback in the mainstream adoption of cryptocurrencies within traditional financial systems.
Potential Impact on Bitcoin (BTC) Prices
According to available information, the approval of the Bitwise 10 Crypto Index ETF, despite the regulatory hold, sends a positive signal for Bitcoin, which constitutes almost 79% of the fund’s assets. Historically, SEC approvals of crypto ETFs have been catalysts for significant price increases in Bitcoin due to enhanced institutional participation and strengthened investor confidence.
In addition, approval could also lead to notable growth in institutional interest and inflows of capital into the digital asset space, mirroring the impact seen with previous Bitcoin and Ethereum ETF approvals, as clarified by the U.S. Securities and Exchange Commission (SEC) in its official approval documentation:
The regulatory body has determined in the past that risks linked to manipulation and fraudulent activity can be effectively managed if an Exchange Traded Product (ETP) allocates a minimum of 80% of its investments to assets with low risk profiles… examples include Bitcoin and Ether.
As of this writing, market reaction to the Bitwise ETF authorization has been relatively subdued due to the temporary regulatory hold. Bitcoin is currently trading at around $118,540.30, based on data from CoinMarketCap, with no significant price fluctuations observed in recent days. The BTC price chart is provided below.