SEC Extends Bitwise Deadline
The SEC has postponed its decision on Bitwise’s proposal to convert its 10 Crypto Index Fund (BITW) into an exchange-traded fund (ETF). Initially due on January 17, the decision is now expected by March 3. The agency cited the need for more time to evaluate the proposal.Challenges for Crypto ETFs
BITW, which includes assets like Bitcoin, Ethereum, and XRP, aims to simplify crypto exposure for traditional investors. The SEC has historically delayed or denied similar applications, such as those from Grayscale and Bitwise. Bloomberg analysts predict further delays for upcoming ETF filings, including a mixed-crypto fund from Grayscale.Osprey Funds Pursues ETF Conversion
Separately, Osprey Funds announced its intent to convert its Bitcoin Trust (OBTC) into an ETF after ending an acquisition agreement with Bitwise. The firm plans to file a registration statement with the SEC, reflecting growing interest in regulated crypto investment products.
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