Bitwise files for a 10 Crypto Index ETF with the U.S. Securities and Exchange Commission (SEC)

Bitwise has filed for a 10 Crypto Index ETF with the U.S. Securities and Exchange Commission (SEC).

This ETF aims to provide diversified exposure to the top cryptocurrencies, including Bitcoin, Ethereum, Solana, XRP, Cardano, Avalanche, Chainlink, Bitcoin Cash, Polkadot, and Uniswap.

The fund will be managed by Bitwise, with Coinbase Custody handling the custody of the digital assets and BNY Mellon managing the cash holdings and administrative duties.

On November 27, 2024, Bitwise Asset Management has filed for an exchange-traded fund (ETF) based on its existing Bitwise 10 Crypto Index Fund, aiming to provide investors with indirect exposure to a diversified portfolio of leading cryptocurrencies.

The New York Stock Exchange (NYSE) Arca submitted a proposal on November 15, 2024, to list this fund as an exchange-traded product (ETP).

Launched in November 2017, the Bitwise 10 Crypto Index Fund allocates its holdings primarily to Bitcoin (BTC) and Ethereum (ETH), which together constitute over 91% of the fund's composition.

As of the latest data, the allocations are approximately 75.14% Bitcoin and 16.42% Ethereum. The remaining 8.44% is diversified across other cryptocurrencies, including Solana (SOL) 4.3%, Ripple's XRP 1.5%, Cardano (ADA) 0.7%, Avalanche (AVAX), Chainlink (LINK),, Bitcoin Cash (BCH), Uniswap (UNI), and Polkadot (DOT).

According to the November 27, 2024, filing with the U.S. Securities and Exchange Commission (SEC), the proposed ETF will hold these digital assets in custody, with Coinbase Custody serving as the custodian.

The Bank of New York Mellon will manage the fund's cash holdings and act as the trust's administrator and transfer agent.