GenzeeSEC Approves, Then Freezes, Bitwise's 10-Coin Crypto Index ETF
Crypto investors got whiplash on 22 July 2026, when the SEC granted accelerated approval for the Bitwise 10 Crypto Index ETF — only to reverse course hours later with a stay order, according to reporting from The Industry Spread and CoinGabbar.
What the fund would track
The approved-then-paused fund would have tracked ten digital assets, including Bitcoin, Ethereum, XRP, Solana, Cardano, Sui, Avalanche, Litecoin and Polkadot, with at least 85% of its holdings in already-approved assets like Bitcoin and Ethereum, per the same reporting. Assistant Secretary Sherry Haywood issued the stay under Rule 431 so the Commission could review the decision made by its Division of Trading and Markets.
Why it matters
The episode highlights just how unsettled the rules still are for multi-asset crypto funds, even as roughly 72 crypto ETF applications from issuers including Grayscale, Franklin Templeton and VanEck remain pending. If crypto is part of your portfolio, our Crypto Profit Calculator can help you work out gains, losses and cost basis regardless of which coins you hold.
Note: This is a plain-language summary, not financial advice. Markets, rates and rules can change quickly; do your own research or speak to a licensed adviser before acting. See our editorial policy for how we source and date figures.