Investing. com - Bitwise Asset Management is seeking Securities and Exchange Commission approval to launch a cryptocurrency exchange traded fund. The San Francisco-based money manager says the ETF will track its Bitwise HOLD 10 Index, a market-cap weighted index of the 10 largest cryptocurrencies that rebalances on a monthly basis.The Bitwise HOLD 10 Cryptocurrency Index Fund would be open to both private and institutional investors. The S.E.C. has yet to approve any crypto-based ETFs because of concerns about extreme price volatility and fund liquidity. Futures exchange CBOE recently submitted an application for a Bitcoin ETF backed by the VanEck SolidX Bitcoin Trust.