Bitwise Asset Management Pushes for Greater Access to Crypto Investments, Announces NYSE Arca Filing to List the Bitwise 10 Crypto Index Fund (BITW) as an ETP

This move could significantly expand investor access to a diversified basket of cryptocurrencies.

Bitwise, a leading provider of crypto investment products, is making another attempt to get a crypto exchange-traded product (ETP) listed on the NYSE Arca.

The firm announced the filing on October 17 via Twitter, highlighting the effort to convert its $1.3 billion publicly traded trust into an ETP.

NYSE Arca has filed to list the Bitwise 10 Crypto Index Fund (BITW), a significant move that could expand investor access to a diversified basket of cryptocurrencies.

According to the filing, the Bitwise 10 Crypto Index Fund, which is designed to track the performance of the top 10 cryptocurrencies by market capitalization, will be listed on the NYSE Arca as an ETP.

The fund’s portfolio composition, as of October 31, 2024, will be adjusted to reflect the changing market dynamics. The portfolio will be reviewed and rebalanced monthly, with risk screens applied to exclude assets deemed to be high-risk.

The Bitwise 10 Crypto Index Fund's portfolio composition as of October 31, 2024, is as follows:

Bitcoin (75.1%)

Ethereum (16.5%)

Solana (4.3%)

XRP (1.6%)

Cardano (0.7%)

Avalanche (0.6%)

Bitcoin Cash (0.4%)

Chainlink (0.4%)

Uniswap (0.3%)

Polkadot (0.3%)

This move is the latest in a series of efforts by Bitwise to launch crypto ETPs. In 2023, the firm filed to launch the Bitwise Crypto Industry ETP, which would have provided investors with exposure to a broad range of companies in the crypto sector.

However, the SEC ultimately rejected the application, citing concerns about the fund’s underlying index and methodology.

Despite the setback, Bitwise has continued to pursue the launch of crypto ETPs, and the latest filing with the SEC marks another step in that direction.

If approved, the Bitwise 10 Crypto Index Fund ETP will trade on the NYSE Arca under the ticker symbol "BITW."