The Bitwise 10 Crypto ETF
Per the filing, the components of the Bitwise 10 Crypto Index ETF include Bitcoin ($BTC BTC), Ethereum (ETH), Solana (SOL), $XRP . Others include Cardano ($ADA ), Avalanche (AVAX), Chainlink (LINK), Bitcoin Cash (BCH), Polkadot (DOT), and Uniswap (UNI).
The fund will track the prices of these assets in weighted proportions, giving investors indirect exposure to the underlying coins. Each of the assets in the Crypto Index ETF has its unique holdings. Bitcoin will occupy a 75.14% share of the index, Ethereum 16.42% and Solana 4.3%
thers including XRP will occupy 1.56% of the fund, Cardano 0.66%, Avalanche 0.55%, Chainlink 0.39%, Bitcoin Cash 0.38%. The last two assets in the Index Uniswap and Polkadot will take 0.31% and 0.30% share respectively.
To determine its Net Asset Value (NAV) at the end of the trading day, the fund will rely on the CF Benchmarks pricing data.
Notably, the ETF has named Coinbase Custody as its partner for the crypto component of the fund. In complement, the Bank of New York Mellon will serve a triple purpose for the fund. BNY Mellon will serve as the custodian for the fund’s cash holdings, play a role as the Trust’s administrator and as the transfer agent.
Bitwise has featured in the news more often lately. As reported earlier by Coingape, NYSE Arca filed the 19b-4 for its Bitcoin and Ethereum ETP earlier this week in hopes of approval
The Challenge With US SEC Approval
The question around more crypto ETF approval beyond Bitcoin and Ethereum was uncertain months ago, however, with the resignation notice of Gary Gensler as US SEC Chair, industry experts are now hopeful.
Bitwise is riding on this positive sentiment to advance its crypto ETF agenda. In addition to the combined Bitcoin and Ethereum ETP filed this week, the asset manager also joined the Solana ETF train this month.
ith the countdown for SEC feedback now activated, it remains to be seen if the filings will be approved
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