The race for a general crypto ETF in the United States just took another unexpected turn. 

The SEC is pushing back its decision on the Bitwise 10 Crypto Index ETF to March 3, 2025, leaving it for the new administration to tackle.

Maybe Gensler is tired of taking flack for these big decisions.

The fund would be a first – tracking not just Bitcoin, but the top ten cryptocurrencies in one package.

What's in the New ETF?

Bitwise is looking to bring the first general crypto ETF to US market, allowing consumers to get general exposure to Web3 asset for the first time.

So far, the BTC and ETH ETFs track only their respective assets, but the this new Bitwise proposal is different. 

Their proposed ETF would track the biggest names in the industry, including Bitcoin, Ethereum, Solana, XRP, Cardano, Avalanche, Bitcoin Cash, Polkadot, and Uniswap. 

The ETF was first proposed by NYSE Arca in November 2024, raising eyebrows from detractors and garnering praise from industry diehards.

Why the Wait?

The SEC typically gets 45 days to make these calls, meaning their decision would have to come no later than January 17, 2025. 

But they're taking the scenic route – and honestly, nobody's surprised.

After January's Bitcoin ETF green light and May's Ether ETF approval, the SEC's being extra careful with this multi-crypto approach.

Given Gary Gensler is on his way out, he seems to be kicking the can down the road to the next SEC Chair rather than take any more flack for making a tough decision.

Watching The Market

Bloomberg's ETF guru James Seyffart saw this coming from a mile away. He's betting other crypto funds (like Grayscale's GDLC) might face similar delays.

Then there's Marty Party, dropping hints about politics playing a role. His take? Watch for movement after the next president takes office.

Big names have big bets on general crypto exposure, so this isn’t a decision that anyone is taking lightly.

But with Trump's promise to make America the crypto capital of the world, some are assuming that this is a done deal once he occupies the White House on January 20th. 

The Bigger Picture

This goes well beyond a single new ETF. Bitwise has another iron in the fire – their "Bitcoin Standard Corporations ETF," targeting companies with serious Bitcoin holdings.

MicroStrategy, anyone? 

This is the latest signal that the crypto investment landscape is evolving. With Bitcoin and Ether ETFs already trading, a multi-crypto fund would open new doors for mainstream investors who want broad crypto exposure without juggling multiple wallets.

March 2025 might feel like a long way off, but there's plenty happening between now and then. 

The SEC's decision could reshape how regular folks invest in crypto. 

Traditional investors could get their hands on a slice of the crypto market without diving into the technical deep end.

Wall Street's watching. Crypto natives are watching. And come March, we'll see if the SEC's ready to let investors grab their piece of the top ten cryptocurrencies in one neat package.