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The SEC has approved Bitwise’s request to convert its Bitwise 10 Crypto Index Fund into a fully-fledged ETF, signaling growing institutional interest in crypto assets. Despite a regulatory stay, the move is seen as bullish for Bitcoin and the broader crypto market.
- Bitwise’s ETF includes 10 major cryptocurrencies, with Bitcoin making up 79% of the fund’s allocation.
- The SEC’s approval process for crypto ETFs may shorten from 240 to ~75 days, speeding up future listings.
- Despite regulatory delays, the approval signals growing institutional confidence in crypto, particularly Bitcoin.
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