Asset manager Bitwise has filed with the SEC to launch an exchange-traded fund (ETF) based on its existing Bitwise 10 Crypto Index Fund (BITW).
On Nov. 15, New York Stock Exchange (NYSE) Arca applied to list the Bitwise 10 Crypto Index Fund as an exchange-traded product (ETP).
According to the application filed on Nov. 27 with the SEC, the proposed Bitwise 10 Crypto Index Fund ETF will offer investors indirect exposure to the underlying cryptocurrencies. The ETF's depositary will be responsible for holding and custodian of the portfolio's assets.
The Bitwise 10 Crypto Index Fund has a diverse allocation, with a significant focus on Bitcoin, along with other cryptocurrencies such as Ether, Solana, XRP, Avalanche, Chainlink, Cardano, Bitcoin Cash, Uniswap and Polkadot.
The filing states that the Trust's only assets will be portfolio assets and cash, and it does not intend to hold any digital assets other than portfolio assets.