Bitwise Spot Bitcoin ETF Update: Unleashes Cutting-Edge Research For Approval

Key Points:

• Bitwise updates Bitcoin ETF application with extensive research to address SEC concerns.
• SEC’s response to spot Bitcoin ETFs is eagerly anticipated after the Grayscale ruling.
• Bitwise remains committed to investor protection while pursuing regulatory approval for Bitcoin access.

Bitwise Asset Management, a prominent crypto asset management firm, has taken a significant step forward in its quest to launch a Bitcoin Exchange-Traded Fund (ETF).

Bitwise Spot Bitcoin ETF Update with Comprehensive Research

In an update shared by Bitwise’s Chief Investment Officer, Matt Hougan, the company unveiled its amended application to list the Bitwise Bitcoin ETF Trust.

This update includes over 40 pages of new research crafted by Bitwise to address the concerns raised by the U.S. Securities and Exchange Commission (SEC) regarding spot Bitcoin ETFs. In the wake of the Grayscale ruling, all spot Bitcoin ETF applications have been in a holding pattern, awaiting the SEC’s response to the court’s decision.

Anticipation Grows as SEC Contemplates Spot Bitcoin ETFs Post-Grayscale Ruling

However, uncertainty remains regarding how the SEC will react, particularly if it chooses to appeal the court’s decision. In such a scenario, the industry would revert to the status quo, necessitating the demonstration that the CME Bitcoin futures market plays a vital role in price discovery, serving as a “regulated market of significant size.”

Bitwise’s amended filing aims to tackle each of the significant objections previously raised by the SEC in its disapproval of spot Bitcoin ETFs. It particularly focuses on clarifying the increasing body of academic research concerning price discovery in the Bitcoin market.

Bitwise has consistently led with original research in its Bitcoin ETF filings, emphasizing investor protection and market integrity. The firm’s commitment to bringing a spot Bitcoin ETF to market has spanned over five years, with continuous efforts to navigate regulatory challenges.

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