Bitwise's cryptocurrency index fund BITW will be traded on the New York Stock Exchange Arca market.

According to Jinse Finance, crypto asset management company Bitwise Asset Management announced today that its crypto index fund—Bitwise 10 Crypto Index ETF (BITW)—will be upgraded to the NYSE Arca market and become an exchange-traded product. BITW, initially launched in 2017, is the first cryptocurrency index fund designed to track the Bitwise 10 Large Cap Crypto Index, providing investors with broad and diversified exposure to the cryptocurrency market. The fund holds the 10 largest crypto assets by market capitalization, with active screening and monthly rebalancing.

Under its new ETP structure, BITW will allocate 90% of its holdings to crypto assets held by existing single-token ETPs—currently including Bitcoin, Ethereum, Solana, and XRP—and limit the total portfolio weight of all other crypto assets to 10%. If other crypto assets receive the same regulatory approval as BTC, ETH, SOL, and XRP, BITW will be able to include them in the 90% holdings category.