The SEC announced a delay in the approval of the Bitwise 10 Crypto Index Fund, possibly due to the large number of altcoins included in the fund

ChainCatcher news, according to the official announcement, the U.S. Securities and Exchange Commission (SEC) has approved the conversion of the Bitwise 10 Crypto Index Fund into an ETF, covering assets including BTC, ETH, XRP, SOL, ADA, SUI, LINK, AVAX, LTC, DOT. However, it also stated: "This authorization action will be reviewed, and the approval order will be suspended until the SEC makes further decisions."

Previously, a similar product—the Grayscale Digital Large Cap Fund (GDLC), which tracks BTC, ETH, XRP, SOL, and ADA—also received preliminary approval from the SEC, but later the agency changed direction and suspended the fund's launch. Sources say that the SEC's hesitation may stem from the need to establish consistent standards for cryptocurrency ETFs, especially for tokens like XRP and ADA that do not yet have independent ETFs.