This delay was expected, as noted by Bloomberg ETF Analyst James Seyffart, who also suggested that similar postponements might occur for other proposals, including Grayscale's Digital Large Cap fund.

The SEC is currently reviewing Grayscale's application to convert its Digital Large Cap (GDLC) into an ETF, which is also likely to be delayed beyond its original February deadline.

If the ETF is approved, it would enhance cryptocurrency investment opportunities, with Bitwise also working on developing other crypto-related funds.

Approval of the Bitwise ETF would mark a significant milestone in the SEC's regulation of cryptocurrency investment vehicles, reflecting a cautious approach to such products.

The U.S. Securities and Exchange Commission (SEC) has postponed its decision on the Bitwise 10 Crypto Index ETF, moving the deadline from mid-January to early March 2025.

The ETF aims to be listed on NYSE Arca and will provide a regulated investment product for major digital assets, including Bitcoin and Ethereum.

The index's value is tied to the performance of the ten largest cryptocurrencies by market capitalization, which Bitwise has managed since 2018.

Trading under the ticker BITW, the Bitwise 10 Crypto Index Fund offers exposure to cryptocurrencies such as BTC, ETH, and others, and currently has a valuation of $1.4 billion.

This latest delay indicates that the approval process for the Bitwise ETF will take longer than initially expected, reflecting the SEC's cautious stance.

The SEC clarified that this delay should not be interpreted as a denial of the ETF proposal, as it requires more time to evaluate the proposed rule change.

The evaluation deadline for the ETF applications is set for late January, with a potential second deadline in early March.

The upcoming leadership change at the SEC, with a crypto-friendly nominee, is anticipated to influence future ETF approvals.