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The U.S. SEC has abruptly paused Bitwise’s plan to convert its Bitwise 10 Crypto Index Fund into a spot Bitcoin ETF, just days after approving it. The move raises questions about regulatory standards for crypto ETFs.
- SEC pauses Bitwise’s spot Bitcoin ETF conversion shortly after initial approval.
- Rule 431 cited as reason for review, delaying NYSE Arca listing.
- BITW fund is 90% concentrated in Bitcoin and Ethereum.
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