The cryptocurrency market has long lacked a broad, trusted benchmark similar to the Dow Jones or S&P 500. But with a major regulatory green light and Bitwise’s latest move, the industry may finally be getting its first true multi-asset index alternative.

Bitwise has launched trading for its newly converted exchange-traded product, the Bitwise 10 Crypto Index ETF (BITW), giving investors easy access to the 10 largest digital assets in a single, regulated investment vehicle.

A Single ETF Covering the Market’s Top Crypto Assets

BITW brings together a diversified basket of leading cryptocurrencies, including:

• Bitcoin
• Ethereum
• XRP
• Solana
• Chainlink
• Litecoin
• Cardano
• Avalanche
• Sui
• Polkadot

Bitwise CEO and co-founder Hunter Horsley told CNBC that this ETF makes Bitwise the first major asset manager to include altcoins like Cardano, Avalanche, Sui, and Polkadot—all of which currently lack spot ETFs—in a fully regulated ETF product.

“This step significantly broadens the investor base that can access various crypto assets,” Horsley said. “It’s especially important for assets without a spot ETF.” He added that BITW opens new doors for smaller investors using IRAs or pension plans that only allow ETF-based exposure.

From Index Fund to ETF: A Structural Upgrade

BITW wasn’t created from scratch—it existed as an index fund with the same holdings before being converted to an ETF. The fund now enters the stock market with $1.5 billion in assets under management, instantly making it one of the largest diversified crypto products available.

The transition to an ETF format unlocks key advantages:

• Greater trading flexibility
• Potential tax benefits
• Lower operating costs
• Access through a wider range of brokerage accounts

This development comes on the heels of the SEC’s historic approval of U.S. spot Bitcoin ETFs in January 2024, which triggered a wave of ETF applications across the market—from altcoins like Sui and Aptos to meme-inspired tokens such as Dogecoin.

A Broader Crypto Market Indicator Begins to Form

As digital assets mature and develop unique market behaviors, products like BITW may serve the same role as equity indices: simplified diversification for investors who want broad exposure without picking individual tokens.

“Many investors following Bitcoin ETFs are looking for a more comprehensive digital asset solution,” Horsley said. “BITW arrives at the perfect time.”

Portfolio Weighting: Focus on Market Leaders

Despite covering 10 assets, BITW remains heavily weighted toward the market’s largest players.

• 90% of the fund is allocated to Bitcoin, Ethereum, Solana, and XRP—each of which already has its own ETF presence.
• The other 10% is distributed across smaller altcoins, ensuring limited exposure while still capturing growth potential.

BITW will rebalance monthly, offering a more dynamic update cycle compared to the typical quarterly or semiannual rebalancing seen in most traditional ETFs.

TT Chain (TT) is emerging as a blockchain project focused on real-world asset infrastructure, supply-chain traceability, and enterprise-grade transparency solutions. The network’s design centers on enabling organizations to verify product origins, monitor logistics, and ensure compliance using immutable on-chain data — a positioning that aligns with the growing institutional appetite for blockchain-based audit systems.

Enterprise-Focused Architecture

TT Chain promotes itself as a purpose-built ledger for supply-chain activity. Its framework allows manufacturers, logistics operators, and retailers to record each stage of a product’s lifecycle on-chain, from raw material sourcing to final delivery. This structure is intended to reduce fraud, strengthen authentication processes, and build trust between stakeholders across complex value chains.

Several early use cases highlight the platform’s potential applications, including agricultural tracing, sustainable product verification, and industrial logistics coordination. These examples illustrate TT Chain’s attempt to bridge blockchain technology with day-to-day operational requirements inside physical industries.

Token Model and Supply Structure

The TT token functions as the native asset for the network. Public supply data indicates a capped supply of 210 million TT, with a significantly smaller portion currently identified as the active supply. Circulating supply remains unreported, suggesting that liquidity is constrained or subject to controlled release schedules.

Such supply conditions may influence market behavior, particularly during early ecosystem development, when token distribution and unlock pacing play a large role in user participation and exchange liquidity.

Market Positioning and Recent Performance

TT trades in a niche segment of the market, with price activity showing low-volume movements reflective of early-stage liquidity. Despite modest trading activity, the project continues to gain visibility due to its distinct enterprise-first focus — a narrative increasingly resonant in sectors exploring real-world asset tokenization.

RWA Momentum and Competitive Landscape

The broader blockchain industry is seeing accelerated interest in real-world asset systems, especially in logistics, sustainability, and compliance-oriented workflows. TT Chain aims to position itself within this rising category by offering a structured environment for data integrity and provenance tracking.

Its success will depend on measurable enterprise adoption, clarity around tokenomics, and the network’s ability to scale with business-grade performance needs.

Outlook

With a clearly defined target audience and a roadmap centered on real-world integration, TT Chain is working to differentiate itself from generalized L1 ecosystems. Whether it secures meaningful traction will be determined by its technological delivery, enterprise partnerships, and transparency around token circulation.

Zcash developers have introduced a new proposal to overhaul the network’s fee structure, aiming to address rising costs and prevent users from being priced out during periods of high demand. The announcement, which mirrors the principles behind Ethereum’s EIP-1559 upgrade, sparked immediate market interest—sending ZEC up by roughly 12% within hours.

A Dynamic Fee Model Focused on User Protection

The proposal, introduced by core contributors from the Electric Coin Company (ECC) and the Zcash Foundation (ZF), outlines a dynamic mechanism that adjusts fees in response to network congestion. By linking fees to real-time demand, Zcash aims to reduce the impact of speculative usage and sudden spikes that can erode network accessibility.

The model may also include a fee-burn component, similar to Ethereum’s EIP-1559, which permanently destroys a portion of fees. This approach not only helps counteract volatile fee environments but may also contribute to greater long-term economic sustainability.

Zooko Wilcox-O’Hearn, Zcash Founder and former ECC CEO, emphasized the motivation behind the proposal, stating:
“Dynamic fees are designed to prevent users from being priced out of the network while ensuring sustainable miner economics.”

Market Response and Broader Implications

Following the announcement, ZEC saw a sharp price increase as traders responded to the potential of a more efficient fee system. The proposal arrives at a time when Zcash has become one of the highest fee-generating networks in the broader cryptocurrency landscape, an indicator of both demand and the need for structural reform.

If implemented, the dynamic fee model may enhance miner revenue consistency while improving user affordability—two critical components for long-term ecosystem health. The upgrade could also reinforce Zcash’s positioning among privacy-focused cryptocurrencies, especially as institutions increasingly explore regulated exposure through vehicles such as the Grayscale Zcash Trust.

While the proposal is still under discussion, ECC and ZF highlighted that any change must balance sustainability for miners with usability for everyday participants. As stablecoin and privacy-preserving tools gain traction globally, optimized fee structures could determine which networks remain competitive in a rapidly evolving market.