{"id":13501,"date":"2026-10-23T05:00:52","date_gmt":"2026-10-23T05:00:52","guid":{"rendered":"https:\/\/ad-doge.com\/blog\/bitwise-asks-sec-to-protect-funds-relying-on-token-status-filings\/"},"modified":"2026-10-23T05:00:52","modified_gmt":"2026-10-23T05:00:52","slug":"bitwise-asks-sec-to-protect-funds-relying-on-token-status-filings","status":"publish","type":"post","link":"https:\/\/ad-doge.com\/blog\/bitwise-asks-sec-to-protect-funds-relying-on-token-status-filings\/","title":{"rendered":"Bitwise Asks SEC To Protect Funds Relying On Token Status Filings"},"content":{"rendered":"

TL;DR:<\/strong> Bitwise filed a supplemental SEC comment seeking clearer protection for firms that rely on token-status filings. The October 21 letter develops its earlier proposal; it is an industry request, not an adopted rule.<\/p>\n

Bitwise is pressing the Securities and Exchange Commission to answer a question that matters to fund managers: when can a firm rely on somebody else\u2019s determination that a crypto asset has separated from an investment contract?<\/p>\n

The asset manager\u2019s October 21 supplemental letter<\/a> focuses on that reliance problem in the SEC\u2019s proposed Regulation Crypto Assets framework.<\/p>\n

It asks the commission to distinguish an issuer\u2019s filing of Form TR from the point at which a separate market participant can rely on an unchallenged filing. It also seeks protection for reasonable, good-faith determinations if a later challenge arises, and asks for the treatment to carry through relevant investment-company and investment-adviser definitions.<\/p>\n

A Token Issuer And A Fund Manager Have Different Information<\/h2>\n

Bitwise\u2019s original October 19 response<\/a> explains its position as a company that builds investment products using crypto assets rather than issuing those assets itself. Whether an asset could be treated as a security affects decisions about which products can hold it.<\/p>\n

The practical concern is that a manager may need to make those decisions using public information, without access to all the records held by an issuer or development team.<\/p>\n

A reliance framework would define when public filings can support that decision and what knowledge would prevent a firm from relying on them. That is distinct from declaring that any particular token is outside securities law.<\/p>\n

The supplement also argues that filing Form TR should not itself be treated as an admission about the asset\u2019s previous legal status. Its requests concern the consequences of using the proposed process, not simply the form\u2019s availability.<\/p>\n

The Letter Does Not Resolve The Rulemaking<\/h2>\n

The document is hosted in the SEC\u2019s comment file, but its arguments belong to Bitwise. Publication there is not an endorsement by the commission.<\/p>\n

The distinction is especially relevant to headlines about regulatory certainty. An industry participant can identify a problem and propose a detailed solution while the outcome remains undecided.<\/p>\n

For fund managers, the issue to watch in the eventual rules is how responsibility is divided between the party making a token-status filing and the firms using it to construct financial products. Bitwise\u2019s latest submission makes that division the center of its case.<\/p>\n

Related Reading<\/h2>\n
    \n
  • Hyperliquid Policy Center Calls For Five Changes To SEC Crypto Rule<\/li>\n
  • SEC Opens New Crypto Custody Path For Investment Advisers And Funds<\/li>\n
  • Winklevoss Zcash ETF Filing Brings Privacy Coin Exposure To Nasdaq<\/li>\n<\/ul>\n

    This article was written by the News Desk and edited by Samuel Rae.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

    TL;DR: Bitwise filed a supplemental SEC comment seeking clearer protection for firms that rely on token-status filings. The October 21 letter develops its earlier proposal; it is an industry request, not an adopted rule. Bitwise is pressing the Securities and Exchange Commission to answer a question that matters to fund managers: when can a firm…<\/p>\n","protected":false},"author":1,"featured_media":13502,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5721],"tags":[275,352,5870,5508,166],"class_list":["post-13501","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-regulation","tag-bitwise","tag-crypto-regulation","tag-investment-funds","tag-regulation","tag-sec"],"_links":{"self":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/posts\/13501","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/comments?post=13501"}],"version-history":[{"count":0,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/posts\/13501\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/media\/13502"}],"wp:attachment":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/media?parent=13501"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/categories?post=13501"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/tags?post=13501"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}