In brief
- SEC staff greenlit Bitwise’s ETF on Tuesday, but it was immediately paused under a discretionary review rule.
- Grayscale’s GDLC faced the same setback earlier this month. It then responded with a legal warning.
- ETF Institute co-founder Nate Geraci called it a “bizarre situation” as procedural uncertainty clouds ETF conversions.
The SEC halted another crypto index ETF approval on Tuesday, marking the second time this month that the commission has intervened to block a staff-level recommendation.
This time around, the move affects Bitwise’s 10 Crypto Index ETF, which was approved earlier in the day by the SEC’s Division of Trading and Markets.
The twin reversals have unsettled crypto ETF observers, especially those…
Jul 23 2025
