Cryptocurrency ETFs are becoming more and more common

For example, this one launched by Bitwise is an index composed of a basket of 10 cryptocurrencies. (Although various CEXs have tried several times over the past N years without success)

The current progress is that the SEC first approved it, and then indicated a pause, so it has not been listed for a long time.

Additionally, from this 10 index, you can see many clues.

First is the priority for the United States

So you can see XRP, SOL, SUI, LINK, Avax, and even DOT

PS: Moreover, compared to SUI, Aptos, the leader of Facebook's trio, seems to be lagging behind.

Second, exchange tokens are excluded.

It's a pity for BNB, as it is an important part of the cryptocurrency market.

Finally, among PoW tokens, there is a preference for LTC, but not for BCH and Doge, indicating that PoW does not have an extra advantage.

Grayscale's GDLC index is even more conservative, with only 5 assets:

However, it still conforms to this general rule:

(1) Priority for the United States

(2) Does not accept platform coins

(3) PoW does not have special advantages

Of course, Grayscale's GDLC situation is similar; it was first commented on by the SEC and then paused.

According to relevant informed sources, it seems that a certain commissioner within the SEC opposed the proposal, leading to the suspension. The opposition's reason is that a standard needs to be established first before these index-based ETFs can be launched.