New ETFs on Wall Street in 2025? Astute observers of American Web3 and traditional finance are fairly unanimous on the imminent arrival of new crypto ETFs on Wall Street for 2025even if we do not yet know who will be the first to have the approval of the SEC. In this race for exchange-traded products indexed to a basket of cryptocurrencies, Bitwise is in a good place, but the company will have to wait a little longer.
The key points of this article:The SEC has postponed its decision on whether the Bitwise 10 Crypto Index Fund will become an ETF, pushing the deadline to March 3.
This postponement, although expected, is intriguing as to the potential impact of new crypto ETFs on Wall Street for 2025.
Unsurprisingly, the American regulator postpones the decision until March 3 and Bitwise will have to wait
Indeed, in a communiqué published Tuesday January 14 in the American evening, the Securities and Exchange Commission, still headed by Gary Gensler, decided to postpone the decision 45 days:
“The Commission believes that a longer period of time for taking action on the proposed rule change is appropriate, so that it has sufficient time to consider the rule change in question and the issues it raises . »
SEC on the conversion of BITW into ETF – Source: Press release
Not really a surprise for the specialists who had apparently anticipated this response, knowing that the official deadline for the answer is in July next. Here, for example, is a reaction from James Seyffart, ETF specialist at Bloomberg:
“As expected, the SEC has postponed the decision on the Bitwise case to convert the Bitwise 10 Crypto Index Fund (BITW) into an ETF. The final deadline is set for the end of July. »
James Seyffart on the SEC decision and Bitwise – Source: Account
Please note that this fund, traded under the ticker BITW, is made up of the following cryptocurrencies (weighted according to their respective capitalization): Bitcoin (BTC), Ethereum (ETH), XRP (XRP), Solana (SOL), Cardano (ADA) , Avalanche (AVAX), Chainlink (LINK), Polkadot (DOT), Bitcoin Cash (BCH) and Uniswap (UNI). It is a question of transforming this fonds in ETF and it is NYSE Arca who is in charge of the file. The SEC has a habit of taking its time before making such decisions, even if the outcome is not really in doubt. However, this paradigm shift on Wall Street is important and the regulator may have decided to leave the hot potato to the team that will arrive on January 20.