NYSE to List Bitwise Crypto Index ETP

NYSE Arca has filed a proposal with the Securities and Exchange Commission (SEC) to list an exchange-traded product (ETP) managed by Bitwise Asset Management.

This ETP, the Bitwise 10 Crypto Index Fund (BITW), will offer investors exposure to a basket of 10 major cryptocurrencies, including Bitcoin, Ether, Solana, and others.

As of October 31, 2024, Bitcoin and Ether constitute the largest portions of the fund’s holdings, accounting for 75.1% and 16.5%, respectively. The remaining cryptocurrencies each represent less than 1% of the fund’s total assets.

Bitwise CEO Hunter Horsley expressed enthusiasm for ETPs as the most effective and user-friendly method of accessing crypto markets.

The company is dedicated to transforming the fund into an ETP, citing the numerous benefits of this structure, such as regulatory oversight and streamlined shareholder processes.