Asset management company Bitwise bitcoin(BTC) and Ethereum(ETH) related market cap withdraws ETF application.
After the SEC delayed back-to-back ETF filings, Bitwise has requested to withdraw its application for Bitcoin and Ethereum Market Cap Strategy Futures (ETFs). The company, which applied to the SEC on this issue on August 3, took a step back less than a month later.
Statements on the subject came from the Bitwise official
Bitwise’s Chief Investment Officer Matt Hougan recently stated that all ETFs must be approved by the SEC. Hougan said the following about the latest developments:
The ETF aims to invest in Bitcoin Futures Contracts or Ethereum Futures Contracts determined by their relative market value. Bitwise has also teamed up with ProShares to launch another ETF.“The Trust no longer intends to investigate the effectiveness of the Fund, and no securities of the Fund have been or will be sold pursuant to the Post-Enforcement Amendment in the Trust Registration Statement.”
After several ETFs have been delayed, Bitwise seems to be re-evaluating its strategy systems. Taking a step back in the ETF move, Bitwise created a question mark in mind. Most Bitwise users and crypto investors believe that the negative outlook for ETFs will continue.
