Bitwise’s crypto fund has just become the second crypto index to begin trading, letting 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 tracking the 10 largest digital assets, received the U.S. Securities and Exchange Commission (SEC)’s approval to begin trading Tuesday on NYSE Arca as an exchange-traded product (ETP).
It is the second U.S.-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 into a regulated exchange listing. The fund, originally launched in 2020, offers diversified exposure to Bitcoin