According to a press release from PR Newswire, crypto index fund Bitwise Asset Management has filed for another exchange traded fund (ETF) with the U.S. Securities and Exchange Commission, this time a Bitcoin ETF. The firm has previously applied for an ETF that covered 10 cryptocurrencies on July 24th last year which remains pending. Since then several other crypto-related ETF’s have been rejected.
The new product that Bitwise has put forward will only track the Bitwise Bitcoin Total Return Index, which measures the full value of a BTC investment including any ‘meaningful’ Bitcoin hard forks. Bitwise aim to have the new product listed on the New York Stock Exchange (NYSE) Archipelago Exchange (Arca).
On the developments, John Hyland, Global Head of Exchange-Traded Funds for Bitwise, said:
“While there can be no assurance that [] the SEC will review and ultimately accelerate the registration statement, we are optimistic that 2019 should be the year that a bitcoin ETF launches.”
Matt Hougan, Global Head of Research, states that Bitwise have listened to responses from the SEC regarding the quality and reliability of the cryptocurrency market and spent the past year researching solutions to relevant issues.
“We have spent the past year researching these questions and look forward to discussing those findings with the SEC staff in connection with the filing and listing application,” he noted.
During 2018, Bitcoin ETF stories dominated the headlines, not least of which included the VanEck/SolidX Bitcoin ETF which the SEC have delayed a decision several times. Other notable Bitcoin ETF’s that have faced defeat include that of Gemini Exchange founders the Winklevoss Twins and two Bitcoin Futures ETF’s from ProShares.
In a similar display of determination as Bitwise, the Winklevoss twin’s Cameron and Tyler have recently reiterated their plans to file for another Bitcoin ETF, stating they “are committed as ever to making an ETF a reality.”
The post Will 2019 be the Year of the Bitcoin ETF? Bitwise Files the Years First Application appeared first on Cryptocoin Spy.
