Bitwise's Crypto Basket ETF Lands on NYSE in Speedy SEC Approval
Published Date: 7/25/2025
Notice
Summary
NYSE Arca just got the green light to update its rules and start trading shares of the Bitwise 10 Crypto Index ETF, a fund that tracks top cryptocurrencies. This change means investors can now buy and sell these crypto-based shares on the big exchange instead of just over-the-counter. The update kicks in fast, opening new doors for crypto fans and traders looking for fresh opportunities.
Analyzed Economic Effects
5 provisions identified: 4 benefits, 1 costs, 0 mixed.
Bitwise 10 ETF Listed on NYSE Arca
The Bitwise 10 Crypto Index ETF, which previously traded over-the-counter, is approved to list and trade on NYSE Arca as of July 22, 2025. This lets investors buy and sell the ETF on a national securities exchange instead of only over-the-counter.
Exchange Trading Transparency and Surveillance
The Exchange and the Trust commit to make quotation and last-sale information available, publish the Trust's NAV daily as of 4:00 p.m. E.T., and disseminate an intraday indicative value every 15 seconds during the core trading session. The Shares will be subject to NYSE Arca's surveillance, trading-halt procedures, and market maker requirements.
85% Approved-Component Holding Requirement
The Trust must ensure that, as of 4:00 p.m. E.T. on every trading day, at least 85% of its Portfolio Assets consist of commodities that the Commission has approved to underlie exchange-traded products; no more than 15% may be non-Approved Components. If the Trust is or will be under 85% Approved Components, the Sponsor must notify the Exchange and the Exchange will halt trading until the 85% threshold is restored.
ETF Tracks Bitwise 10 Index Composition
The Trust's objective is to track the Bitwise 10 Large Cap Crypto Index and it rebalances monthly. As of June 30, 2025, the Portfolio Assets and their weightings were: bitcoin 78.72%, ether 11.10%, XRP 4.97%, Solana 3.03%, Cardano 0.78%, SUI 0.35%, Chainlink 0.32%, Avalanche 0.28%, Litecoin 0.24%, and Polkadot 0.19%.
No Annual Shareholder Meetings for Trust Units
NYSE Arca amended Rules 5.3-E and 5.3-E(e) to include Trust Units among derivative and special-purpose securities that are subject to a limited set of corporate governance and disclosure policies and for which annual shareholder meetings need not be required. Holders of Trust Units therefore generally will not participate in annual meetings in the same way equity holders do.
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Key Dates
Department and Agencies
Related Federal Register Documents
2026-17183, Regulation Crypto Assets
The Securities and Exchange Commission ("Commission") is proposing new rules to create a tailored offering regime for certain investment contracts involving crypto assets. The proposed offering regime is intended to facilitate capital formation and accommodate innovation within the crypto asset markets while, at the same time, ensuring that investors are adequately protected and provided with the information they need to make informed investment decisions. The proposed rules would be set forth in a new regulation titled "Regulation Crypto Assets" and would include two exemptions from the registration requirements of section 5 of the Securities Act of 1933. The first exemption would permit offerings of up to $5 million during a four-year period. The second exemption would permit offerings of up to $75 million during each 12-month period. Under both exemptions, issuers would be required to make certain principles-based narrative disclosures available to their investors. In addition, issuers under the second exemption would be required to provide financial statements and would be subject to ongoing reporting requirements. Issuers that rely on these exemptions would remain subject to the antifraud and antimanipulation provisions of the Federal securities laws. The proposed rules also would include a conditional safe harbor from the term "investment contract" in the definitions of "security" in the Securities Act of 1933 and the Securities Exchange Act of 1934. If the conditions of that proposed safe harbor are satisfied, then a crypto asset would be deemed not to be subject to an investment contract for purposes of those definitions of "security."
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2026-07651, Concept Release on Consolidated Audit Trail and Other Audit Trails and Data Sources
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2026-17058, Self-Regulatory Organizations; Nasdaq ISE, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the Exchange's Connectivity Schedule and Discontinue a Previously Proposed Offering
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