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After all the waiting and drama surrounding the Bitcoin ETF, the US SEC finally announced that it was once again embarking on the Bitcoin ETF review process and had resumed the Bitwise app for an initial review.
SEC publishes Bitwise proposal in Fed Register on February 15
Are we in sight of a Bitcoin ETF? The US Securities and Exchange Commission (SEC) has announced its intention to continue the process of approving the ETF and to begin considering the proposal to amend the Bitcoin ETF rules filed by NYSE Arca and Bitwise Asset Management on February 11. The proposal itself was published in the Federal Register on February 15, beginning the 45-day countdown that the SEC must make its initial decision to approve, reject or extend the proposal.
Even though NYSE Arca and Bitwise had filed the application early in 2019, there was no solution because of the closure of the US government. But everything seemed to be back on track, the Federal Register having been changed on February 15th.th, 2019 marks the beginning of the long-awaited process.
The approval process is always long and involves several obstacles, Bitwise Bitcoin ETF has generated a lot of hype, which could give reason to the SEC. The valuation of the proposed ETF is based on Bitcoin futures, which has never been proposed before.
Bitwise's Global Head of Exchange Traded Funds, John Hyland, remains hopeful that the SEC will approve their Bitcoin ETFs. His trust is clearly visible when he was quoted saying
"While there is no guarantee that the 19b-4 application will be accepted or that the SEC will ultimately review and expedite the registration statement, we are optimistic that 2019 will be the year of the launch of the ETF." bitcoins. "
Bitwise was recently founded in 2017 and is headquartered in San Francisco. The firm's team is comprised of professionals with decades of experience in badet management. Some of the firm's members come from circles such as Facebook, Wealthfront, BlackRock, NYLife Investments, IndexIQ, US Commodity Funds, Goldman Sachs, JPMorgan and ETF.com.
The company has also developed the first cryptocurrency index fund and is the leading provider of rules-based exposure solutions to the cryptographic badet space. Together, the company has 4 best encryption indexes: Bitwise 10 Large Cap, Bitwise 20 Mid Cap, Bitwise 70 Small Cap, and Bitwise 100 Total Market. While many companies have already tried to do so, Bitwise has meticulously designed to follow a clear rule base that takes into account various factors.
Will Bitwise ETF Find the Holy Grail and Be the First SEC Approved Bitcoin ETF? Let us know your point of view on the same thing.
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SEC could approve first Bitcoin ETF over next 45 days early in review process
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After all the waiting and drama surrounding the Bitcoin ETF, the US SEC finally announced that it was once again embarking on the Bitcoin ETF review process and had resumed the Bitwise app for an initial review.
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Nilesh Maurya
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