According to @Matt_Hougan, the Bitwise 10 Crypto Index ETF (BITW) is not registered under the Investment Company Act of 1940 and therefore is not subject to the same protections as 1940 Act mutual funds or ETFs, a structural factor traders must account for when evaluating risk exposure (source: @Matt_Hougan on X, Dec 9, 2025). He states that BITW is subject to significant risk and heightened volatility and that an investor may lose their entire investment, highlighting elevated drawdown potential in this product (source: @Matt_Hougan on X, Dec 9, 2025). He also clarifies that buying BITW is not a direct investment in any crypto asset, which is material for traders comparing fund exposure mechanics versus owning coins outright (source: @Matt_Hougan on X, Dec 9, 2025). The marketing agent is Foreside Fund Services, and further details are available in the fund prospectus at bitwetp.com/welcome, which should be reviewed before trading (source: @Matt_Hougan on X, Dec 9, 2025; source: Bitwise prospectus at bitwetp.com/welcome).

According to the source, REX-Osprey has launched the first U.S. ETH staking ETF under a 1940 Act structure; this has not been corroborated on SEC EDGAR or through an issuer press release at the time of writing (source: U.S. SEC EDGAR public database; issuer disclosures). U.S. spot ETH ETFs approved in 2024 explicitly stated they would not stake ETH in SEC-filed prospectuses, so any staking-enabled ETF would represent a material regulatory shift requiring clear SEC filings and exchange notices (source: SEC spot ETH ETF prospectuses and 19b-4 approvals in 2024). Traders should wait for verifiable filings such as a Form N-1A or N-2, an effective prospectus, a CIK on EDGAR, a ticker/CUSIP, and an NYSE/Nasdaq listing notice before positioning on this headline (source: U.S. SEC EDGAR; U.S. exchange listing notices).