THELOGICALINDIAN - Cryptocurrency asset administration close Bitwise has submitted addition Bitcoin ETF filing to the United States Securities and Exchange Commission SEC The firms antecedent BTC ETF filing was amid the ones alone by the SEC in 2024
Physically-backed Bitcoin ETF
If at first, you don’t succeed, try again. The acclaimed adage seems contextual for Bitwise as the close prepares for addition go at accepting SEC approval for a Bitcoin ETF. According to a press release published on Thursday, January 10, 2019, the cryptocurrency asset administration close filed an antecedent allotment account on Form S-1 with the SEC.
This new filing is for a physically-backed Bitcoin ETF listed on the NYSE Arca. According to the advertisement by Bitwise, the anew proposed BTC ETF will clue the company’s Bitcoin Index.
Going forward, NYSEC Arca should in the advancing days, book a “Rule Change” with the SEC acceptance it to account shares of the Bitwise BTC ETF beneath an accustomed ticker symbol.
Satisfying the SEC
For Bitwise, the focus is on acceptable the SEC this time around. The Commission has continuously affirmed its misgivings about acknowledging a Bitcoin ETF based on issues such as bazaar manipulation, fair pricing, and liquidity.
Commenting on the company’s accommodation in this regard, the Global Research arch at Bitwise, Matt Hougan, said:
One of the cogent changes included in the new filing is that it uses third-party aegis services. As for fair appraisement concerns, the Bitwise BTC basis aggregates appraisement abstracts from abounding of the arresting barter platforms in the industry. The aggregation is acquisitive that such a apparatus constitutes fair asset appraisement for the SEC.
The Quest for BTC ETF Approval Continues
For John Hyland, the Bitwise Global ETF chief, the achievement of an SEC-approved Bitcoin ETF remains firm. Commenting on the issue, Hyland said:
In February, the Commission will adjudge on the aftermost actual BTC ETF filing from 2018. Having acclimated up all the postponements accustomed by law, the SEC charge bear a final approval or bounce of the VanEck/SolidX proposal.
Do you anticipate the aftereffect for Bitwise will be altered this time around? Let us apperceive your thoughts in the comments below.
Image address of
