Crypto Market Movers
By Sakamoto Nashi
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The U.S. Securities and Exchange Commission (SEC) has created a stir in the crypto world by approving, then immediately halting, a highly anticipated crypto exchange-traded fund…
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On July 22, 2025, the SEC’s Division of Trading and Markets gave the green light to a rule change that would allow NYSE Arca to list and trade shares of the Bitwise 10 Crypto…
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According to Bitwise, the fund’s composition as of June 30 included 78.72% Bitcoin, 11.10% Ethereum, and 4.97% XRP. Other coins in the mix were Solana (3.03%), Cardano (0.
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Operationally, the ETF would be supported by well-established financial institutions. Coinbase Custody Trust is slated to handle the custody of the crypto assets, while The Bank…
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However, the optimism surrounding this milestone was short-lived. Later that same day, the SEC’s Office of the Secretary issued a stay on the approval decision, citing Rule 431…
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This sudden reversal has drawn criticism and confusion from experts in both traditional finance and crypto sectors.
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Analysts suggest this may point to deeper regulatory uncertainty within the SEC. It’s possible that internal disagreements or last-minute legal concerns triggered the reversal.
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Market reaction to the reveal has been mixed. Some investors had hoped the ETF would open the door to greater institutional adoption and add legitimacy to a broader range of…
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Bitwise has not yet issued a public statement addressing the stay, but market participants are watching closely.
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In the meantime, the crypto industry remains in limbo, waiting for clarity from the SEC. As ETFs become an increasingly important gateway for mainstream crypto exposure, the…
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