The U.S. SEC granted accelerated approval for Bitwise’s proposal to convert its Bitwise 10 Crypto Index Fund (BITW) into a spot ETF, only to later halt the launch under Rule 431 for further review. This follows a similar reversal involving Grayscale’s mixed crypto ETF, raising concerns about regulatory consistency. The BITW ETF, which includes major cryptocurrencies like Bitcoin and Ethereum, was set to trade on NYSE Arca but remains OTC until the stay is lifted. Analysts criticize the SEC’s opaque decision-making, with some suggesting the delays align with pending regulatory deadlines. Bitwise manages nearly $5.8B in crypto ETFs, including its $4.8B spot Bitcoin ETF.
about SEC Approves Then Halts Bitwise Crypto ETF in Bizarre MoveVan Buren Capital
0 in Finance and 0 in Crypto last weekNikhil Basu Trivedi: Human-Centered Crypto Investor
Nikhil Basu Trivedi, a Silicon Valley-born investor with a background in molecular biology and finance, has carved a niche in crypto by backing tools like Ledger and Rainbow that prioritize user experience and emotional connection. Co-founding Artsy and later Footwork VC, he champions early-stage projects—from crypto wallets to AI detection tools like GPTZero—while avoiding hype cycles. Recognized on the Forbes Midas Seed List, his quiet influence shines through investments in Canva and Athelas, driven by a philosophy of questioning assumptions and fostering open dialogue in tech.
about Nikhil Basu Trivedi: Human-Centered Crypto Investor