Why Does the SEC Keep Pausing ETFs That Hold XRP? A Look at the Bitwise Case
- SEC’s sudden ETF pause highlights internal conflicts in crypto fund regulations
- Discrepancies in XRP’s allocation raise transparency concerns in Bitwise’s fund
- Surging ETF applications signal mounting pressure on SEC’s regulatory framework
In a surprising turn of events, the U.S. Securities and Exchange Commission (SEC) approved Bitwise’s proposal to convert its Bitwise 10 Crypto Index Fund (BITW) into a spot exchange-traded fund (ETF), only to pause the approval moments later.
This abrupt move has left the market puzzled. And now, the focus is turning to the fund’s asset allocation, especially its reported weight of XRP, which some experts argue may not be accurate.
Dispute emerges over the fund’s XRP weight
On paper, the fund’s structure seems clear. About 90% of its weight is in Bitcoin and Ethereum. The remaining 10% is divided among eight other major altcoins, including Solana, Cardano, and XRP.
An internal source close to the matter reportedly confirmed XRP’s weight in the fund at 6.7%. But not everyone is convinced. Questions began to surface online when observers, including legal analyst Bill Morgan, expressed doubts about that p…
The post Why Does the SEC Keep Pausing ETFs That Hold XRP? A Look at the Bitwise Case appeared first on Coin Edition.
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Why Does the SEC Keep Pausing ETFs That Hold XRP? A Look at the Bitwise Case
- SEC’s sudden ETF pause highlights internal conflicts in crypto fund regulations
- Discrepancies in XRP’s allocation raise transparency concerns in Bitwise’s fund
- Surging ETF applications signal mounting pressure on SEC’s regulatory framework
In a surprising turn of events, the U.S. Securities and Exchange Commission (SEC) approved Bitwise’s proposal to convert its Bitwise 10 Crypto Index Fund (BITW) into a spot exchange-traded fund (ETF), only to pause the approval moments later.
This abrupt move has left the market puzzled. And now, the focus is turning to the fund’s asset allocation, especially its reported weight of XRP, which some experts argue may not be accurate.
Dispute emerges over the fund’s XRP weight
On paper, the fund’s structure seems clear. About 90% of its weight is in Bitcoin and Ethereum. The remaining 10% is divided among eight other major altcoins, including Solana, Cardano, and XRP.
An internal source close to the matter reportedly confirmed XRP’s weight in the fund at 6.7%. But not everyone is convinced. Questions began to surface online when observers, including legal analyst Bill Morgan, expressed doubts about that p…
The post Why Does the SEC Keep Pausing ETFs That Hold XRP? A Look at the Bitwise Case appeared first on Coin Edition.
Read More