Bitwise’s crypto fund has just become the second crypto index to start trading, giving individual traders and institutions access to multiple cryptocurrencies in a single investment vehicle. .
The Bitwise 10 Crypto Index Fund (BITW), a $1.25 billion vehicle that tracks the top 10 digital assets, received US Securities and Exchange Commission (SEC) approval to begin trading Tuesday on NYSE Arca as an exchange-traded product (ETP).
It is the second US-listed multi-asset crypto index fund to be approved as a full ETP, following Grayscale’s ETP approval in July, moving beyond over-the-counter trading to a regulated exchange listing. Originally launched in 2020, the fund offers diversified exposure to Bitcoin Ether Solana XRP and other top cryptocurrencies, rebalanced monthly based on market cap and liquidity filters.
“This is a watershed moment for crypto as an asset class. With BITW listing as an ETP today, crypto finally has an NYSE-traded index fund,” said Hunter Horsley, CEO of Bitwise.
As a regulated ETP, BITW now joins the same structure used by gold, oil and commodity funds, a milestone that could bring more institutional capital into crypto indices and potentially ease operational risks for traditional allocators wary of direct token exposure.
“BITW’s transition to NYSE Arca is a breakthrough moment,” Bitwise Chief Investment Officer Matt Hougan said in the company’s announcement. “It lets people invest in the thesis without having to predict the future, knowing that BITW will own the biggest, most successful assets in the space.”
The SEC’s approval followed a delayed review earlier this year. The final sign-off came after NYSE Arca’s proposed rule change to allow listing of the product was certified effective Dec. 4, 2024, according to the regulator’s approval document.
