Key Highlights
- SEC approves NYSE Arca’s rule change enabling the Bitwise 10 Crypto Index ETF.
- The new framework requires at least 85% of holdings to be SEC-approved ETP components.
- The approval follows Bitwise’s recent XRP ETF debut, signaling momentum for multi-asset crypto funds.
The U.S. Securities and Exchange Commission (SEC) has formally approved NYSE Arca’s bid to list the Bitwise 10 Crypto Index ETF. This concludes a year-long rule review that reshapes how multi-asset crypto funds can trade on national securities exchanges.
The ETF tracks the Bitwise 10 Large Cap Crypto Index, holding a basket of the largest digital assets, including Bitcoin, Ether, XRP, Solana, and other top-10 names, rebalanced monthly. Its approval required NYSE Arca to amend Rule 8.500-E, the exchange’s framework governing crypto-based trust units.
What changed in the rule
The SEC’s order centers on a critical update: at least 85% of the ETF’s holdings must consist of crypto assets already approved by the SEC as primary components of an exchange-traded product. This rule matters for two reasons:
- Stronger fraud controls: By requiring most holdings to be assets with established surveillance and pricing frameworks, the SEC says manipulation risks are reduced.
- Clear model for future crypto indexes: The ruling outlines how multi-asset crypto ETFs should be structured, setting a path for more index-style products beyond single-asset spot ETFs.
The SEC also stressed real-time indicative values, public NAV updates, and surveillance rules, mirroring standards used for commodity ETPs and spot Bitcoin ETFs.
Recent launch builds momentum
The decision comes shortly after Bitwise launched another product on the NYSE: the Bitwise XRP ETF, which went live on November 20 with a fee waiver on its first $500 million in assets. Earlier this year, the firm debuted the Bitwise Solana Staking ETF (BSOL), the first U.S. product to deliver staking rewards inside a regulated ETF wrapper.
Combined with the new crypto index approval, Bitwise now fields one of the broadest ETF families in the digital-asset market, spanning Bitcoin, Ethereum, XRP, Solana, and diversified index exposure.
What comes next
The approval marks a notable move: after years of rejecting crypto index products, the SEC has finally outlined how they can pass, but only when most holdings come from already-approved assets. It’s a narrow path, and one that signals more index ETF filings are likely in 2026.
For Bitwise and future issuers, the message is blunt: diversified crypto ETFs are allowed only if the portfolios are transparent, the pricing is clean, and the exchange can actually police manipulation. Anything outside that box won’t get through.
Also read: Bitwise Solana Staking ETF BSOL Hits $500M in 18 Days
