Top Cryptos to Watch as SEC Halts Bitwise’s Multi-Asset ETF—Time to Buy?
The SEC just slammed the brakes on Bitwise's diversified crypto ETF—and the market's already pivoting. Here's where smart money's flowing now.
Regulatory roulette strikes again
Wall Street's favorite game of 'approve-reject-repeat' claims another victim. While TradFi lawyers dust off their appeal paperwork, crypto traders are doing what they do best: finding the next asymmetric bet.
Alts poised to outperform
History shows regulatory speedbumps often accelerate capital rotation into high-conviction plays. Layer 1 tokens with clear utility cases and compliant DeFi blue chips are seeing unusual OTC interest.
The cynical take
Another day, another SEC delay—but at least they're consistent. Meanwhile, the rest of us will keep building the future of finance while regulators perfect their 'hurry up and wait' strategy.
From Accelerated Approval to Halting the Decision
The ETF in question tracks the Bitwise 10 Large Cap Crypto Index. It comprises leading cryptos weighted by free-float market capitalization. When the approval went through, the SEC formally stated that pursuant to Section 19(b)(2) of the Exchange Act, the ETF WOULD be approved on an accelerated basis.
The leading cryptos that the ETF covers include Solana, Bitcoin, Ethereum, XRP, Cardano, Sui, Chainlink, Avalanche, Litecoin, and Polkadot.
If the approval had moved forward as intended, it could have given investors exposure to a wide array of high-cap assets through a single ETF.
However, things took a turn on July 22, when the SEC’s Office of the Secretary issued a stay on the approval under Rule 431. It essentially stated that the Commission would review the delegated action. Why has this happened?
A simple reason is that handling a multi-asset ETF has its own array of complications. Furthermore, regardless of how progressive regulations have become, clarity around digital assets is still lacking. The SEC’s decision to stay the approval may have been a way to give the Commission more time to assess the ETF.
And it’s not like this hasn’t happened before. The Grayscale GLDC ETF conversion came to a halt indefinitely. No explanation was given around that time either.
How Could SEC’s Decision Impact the Cryptocurrency Market?
Now, the real question is: how will the SEC’s decision impact the cryptocurrency market? Since this decision has been nothing more than a blip so far, there has been no short-term impact.
However, if such moves are made repeatedly, since it is evident that regulatory clarity still isn’t here, even though the CLARITY Act has passed the House, there could be major volatility in the price movements of major assets.
But since times are still uncertain, investors are better off focusing on crypto ICOs. These projects give investors the opportunity to move in early and generate gains. Furthermore, their unique use cases and vibes make them an optimal investment option for beginners as well.
Best Crypto to Buy Now
Here are the top crypto picks for investors looking for early-mover opportunities:
TOKEN6900
The SEC’s decision to halt Bitwise’s ETF approval only to keep it under review reflects the unpredictable, almost comical nature of the crypto regulatory space.
In a market already saturated with volatility and meme-driven narratives, this creates the perfect storm for assets like TOKEN6900 to thrive. It embraces the humor, the absurdity, and the randomness that defines much of modern crypto culture.
TOKEN6900 is a pure meme coin with no utility and no grand promises. Instead, it offers an unapologetic plunge into chaos, with themes designed to entertain, confuse, and engage. It proudly competes against SPX6900, sharing a similar degen spirit but doubling down on brainrot appeal. Its social media presence is fueled by AI-generated memes that intentionally break conventional structure, pulling in users who prefer unfiltered fun to fundamentals.
Visually, TOKEN6900 leans into a nostalgic aesthetic, drawing from low-res, Windows 95-style visuals that feel right at home with its ironic tone. Despite its irreverence, the token has managed to attract significant attention, raising over $1 million during presale.
While it may not suit traditional investors, TOKEN6900 resonates deeply with the degen crowd that views the market as a playground rather than a portfolio.
Experts like Jacob Crypto Bury have noted its growing potential, suggesting it could possibly 10x post-launch. For those willing to bet on chaos and comedy, TOKEN6900 could be a wild but rewarding ride.
Snorter
Bitcoin’s multi-asset ETF, if fully realized, could have opened doors for diversified crypto exposure and simplified investment strategies.
But for meme coin enthusiasts looking for high-risk, high-reward plays, a more agile approach is needed. This is where Snorter comes in, a Telegram-based trading bot built to help users discover and invest in multiple meme coins with speed and precision.
Snorter is tailored for Solana-based meme coins, a segment known for going parabolic in short timeframes. It offers automated sniping, fast swaps, and copy trading, making it easier for both beginners and degen veterans to enter and exit positions efficiently.
What sets Snorter apart, however, is its emphasis on user safety. Features like honeypot detection, rug pull alerts, and MEV protection allow traders to operate with more confidence in a market often riddled with scams.
But Snorter isn’t all business. Its memetic identity, centered around an aardvark mascot, gives it standout appeal in a sea of dogs and frogs. The aardvark is weird, wild, and wonderfully fitting: a perfect symbol for a project that’s equal parts chaos and control.
By combining real utility with internet-born humor, Snorter offers something rare in the meme coin space: functionality that fuels fun, and fun that drives value.
Wall Street Pepe
Wall Street Pepe is built on a simple but powerful mission: to give the power back to retail investors. Drawing inspiration from the WallStreetBets movement and the broader sentiment that traditional finance often leaves everyday traders behind, this meme coin blends rebellion with strategy.
Visually, Wall Street PEPE stands out with its office-going Pepe mascot, dressed in a suit and tie, ready to flip the script on Wall Street. The aesthetics signal a shift from chaos to calculated moves, showing that memes and market intelligence can coexist.
At the heart of the project is the Alpha Trading Chat, a community-driven hub where users gain real-time insights into market trends. It provides educated trading signals, curated updates, and the kind of collaborative knowledge-sharing that’s usually reserved for institutional investors. The goal is to make every member of the “WEPE Army” an informed participant capable of making smart, independent plays.
One of the year’s most successful presales, Wall Street Pepe has now expanded its ecosystem into Solana, taking advantage of faster speeds and lower costs while strengthening its multichain presence. With solid use cases, strong branding, and a community-first approach, Wall Street Pepe portrays itself as a “people’s meme coin”.
Conclusion
The SEC’s decision to halt Bitwise’s multi-asset ETF should come as a surprise to no one. The product covers multiple top cryptos, and it is possible that it is more complex than it seems. But still, people were expecting things to get better post Trump’s election as president, and the market is tired of the old “regulation vs financial innovation” narrative resurfacing again.
This does create a possibility that the market could get volatile, which changes the narrative around the traits that define the best cryptos. Altcoins are reigning supreme right now, but crypto ICOs offer diversification opportunities. Therefore, investors should focus on a mix of both (altcoins and ICO cryptos) to remain SAFE when and if the market goes haywire.
