The SEC has delayed its decision on Bitwise’s proposal to convert its 10 Crypto Index Fund into an ETF, extending the deadline to March 3 for further evaluation.
The fund, trading under “BITW,” offers exposure to assets like Bitcoin (BTC), Ethereum (ETH), and Solana (SOL). Analysts, including Bloomberg’s James Seyffart, expected the delay and anticipate a final ruling could be pushed to July.
While the SEC has approved spot Bitcoin and Ethereum combo ETFs from Franklin Templeton and Hashdex, Bitwise and Grayscale continue to face regulatory hurdles, with Grayscale’s application for a similar ETF likely to be delayed as well.
Separately, Osprey Funds announced plans to convert its Bitcoin Trust (OBTC) into an ETF after terminating a deal with Bitwise due to regulatory setbacks.
Osprey is now exploring new strategies for the fund. These delays highlight the challenges crypto firms face as they work to bring ETFs to market amidst ongoing regulatory caution.
UBS analyst Brian Meredith has revised his outlook on Berkshire Hathaway’s Class B shares, trimming the price target from $606 to $591, while maintaining a “buy” rating.
In a move not seen in decades, the U.S. Treasury Department has initiated a historic $10 billion bond buyback—its largest ever—targeting securities set to mature between mid-2025 and mid-2027.
In a bold move to reshape the future of ApeCoin, Yuga Labs has introduced a proposal that would dissolve the existing ApeCoin DAO and replace it with a streamlined management body called ApeCo.
Circle’s arrival on the New York Stock Exchange sent shockwaves through the market, and Cathie Wood’s ARK Invest wasted no time jumping in.