BitWise has made a notable move in the crypto sector by filing for an exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC). This new ETF is designed to provide investors with a diversified exposure to major cryptocurrencies.
The filing aligns with the SEC's recent inclination towards supporting cryptocurrency-based financial products, suggesting a shift in how traditional financial markets might engage with digital currencies.
If approved, this ETF could pave the way for more diversified products, making it easier for investors to gain broad exposure to the crypto market while mitigating risks associated with individual cryptocurrencies.