SEC Postpones Bitwise ETF With XRP, BTC, SOL & More After Approval
The SEC postpones Bitwise ETF approval just hours after staff initially gave it the green light on Tuesday. The Bitwise 10 Crypto Index Fund, which actually manages $1.68 billion in assets and holds major cryptocurrencies like Bitcoin, Ethereum, XRP, and Solana, received staff approval and then staff immediately paused it under Rule 431. This crypto ETF delay 2025 marks the second such reversal this month, and it’s creating fresh uncertainty around multi-asset crypto ETF products right now. Why Bitwise’s Multi-Asset Crypto ETF Faces SEC Scrutiny in 2025 The SEC Postpones Bitwise ETF Under Internal Review Rule The SEC postpones Bitwise ETF approval using something called Rule 431, which actually allows the full Commission to review decisions made by staff. The Division of Trading and Markets had approved the Bitwise 10 Crypto Index Fund conversion on Tuesday morning, but then the SEC’s Office of the Secretary triggered an automatic stay just hours later. Nate Geraci, wh...