U.S. SEC Temporarily Suspends Approval of Bitwise's Cryptocurrency Index-Linked ETF

The U.S. Securities and Exchange Commission (SEC) approved the conversion of Bitwise's cryptocurrency index fund into an ETF on July 22, only to announce a temporary suspension shortly thereafter. The decision had been made through an expedited approval process by the Trading and Markets Division, but it has now been subjected to further review by the Commission.

The Trading and Markets Division had granted an accelerated approval for the 'Bitwise 10 Crypto Index ETF,' as disclosed in the documents.

However, SEC Deputy Secretary Sherry Heywood explained in a statement immediately following that the approval decision of July 22 would be suspended until further directive from the Commission.

Bitwise 10 Crypto Inde...