The SEC approved and then immediately paused the conversion of Bitwise’s crypto index fund into an exchange-traded fund (ETF), leaving it in limbo pending review. The SEC’s Division of Trading and Markets initially granted an “accelerated approval” of the Bitwise 10 Crypto Index conversion to an ETF on Tuesday. However, the same day, SEC Assistant Secretary Sherry Haywood said in a letter that the “order is stayed until the Commission orders otherwise. “