US SEC Delays Review of Bitwise Crypto Asset Mixed ETF Including Ripple and Bitcoin

The Securities and Exchange Commission (SEC) has extended the review period for asset management company Bitwise's crypto asset (cryptocurrency) mixed exchange-traded fund (ETF) application until March 3, 2025.

On the 14th (local time), crypto-specialized media Crypto Briefing reported this by citing SEC documents.

Previously, in November, Bitwise submitted a listing application for the Bitwise 10 Crypto Index Fund (BITW) to the SEC through the New York Stock Exchange Arca (NYSE Arca). However, the SEC was unable to conduct a sufficient review by the original deadline of January 17, and thus extended the review deadline to March 3.

The SEC explained the purpose of the extension in a statement, saying it was "to address concerns related to market manipulation, liquidity, and investor protection."

Meanwhile, BITW is currently a $1.4 billion product. It is currently traded on OTCQX. Matt Hougan, Bitwise's Chief Investment Officer (CIO), explained, "BITW is a product designed to showcase the potential of crypto assets to investors."