PANews reported on November 28 that according to Beincrypto, BitWise has submitted an application to the U.S. Securities and Exchange Commission (SEC) to launch an ETF based on its 10 cryptocurrency index funds. If the application is approved, it will become the most diversified and widely covered cryptocurrency ETF in the U.S. market.

According to the filing, the fund includes Bitcoin, Ethereum, Solana, XRP, Cardano, Avalanche, Chainlink, Bitcoin Cash, Polkadot, and Uniswap. BitWise has maintained the initial fund since 2018 and ties its value to the ten most valuable cryptocurrencies.

The SEC has officially confirmed receipt of the application, marking the start of the countdown for the commission to decide whether to reject or approve the application. However, no deadline has been set for the application.