This article was prepared using automated systems that process publicly available information. It may contain inaccuracies or omissions and is provided for informational purposes only. Nothing herein constitutes financial, investment, legal, or tax advice.
The SEC initially approved Bitwise’s crypto ETF conversion but later issued a stay order, halting its launch. This marks the second such reversal this month, sparking criticism from analysts. The ETF was set to include top cryptocurrencies like Bitcoin and Ethereum.
- SEC approved then halted Bitwise’s crypto ETF conversion under Rule 431, mirroring its earlier block on Grayscale’s ETF.
- The BITW ETF includes 10 major cryptocurrencies like Bitcoin, Ethereum, and Solana but remains OTC due to the stay.
- Analysts speculate the SEC’s reversals may be tied to internal politics or pending 2025 listing standards.
📎 Related coverage from: cryptopotato.com