Bitwise’s ETF Hopes Hang in Limbo After SEC Pauses Approval

Bitwise’s plan to convert its crypto index fund into an ETF hit a snag after the SEC approved—then quickly paused—the move, creating uncertainty for investors.

The SEC initially granted accelerated approval for the Bitwise 10 Crypto Index Fund’s ETF conversion on Tuesday. But the agency later issued a stay, freezing the process until further review.

The BITW fund, which includes Bitcoin and Ether exposure, has been awaiting ETF status since November. Bloomberg ETF analyst James Seyffart noted on X that the delay likely stems from pushback within the SEC, meaning the conversion remains on hold.