Bitwise Asset Management withdraws its application for a Bitcoin (BTC) futures ETF as a number of such products are launching in the United States.
Furthermore, While at it, Bitwise is still bullish on a spot Bitcoin ETF, which is to track Bitcoin directly. More so, this is according to Matt Hougan announcement on Nov. 10.
Also, Hougan notes that Bitwise spot filing is still untouched and will continue its efforts to launch such a product in the United States.
“Ultimately, what many investors want is a spot Bitcoin ETF. We think that’s possible…”
“So Bitwise will continue to pursue that goal, and we will look for other ways to help investors…”
” get access to the incredible opportunities in crypto.”
Furthermore, the CIO express that the first Bitcoin ETF application in filing is a spot ETF by Gemini crypto exchange founders Cameron and Tyler Winklevoss.
Notably, it was filed in 2013, however, the application was denied by the U.S. Securities and Exchange Commission (SEC) in 2017.
“For years, many have worked on this, including the team here,” Bitwise chief investment officer Matt Hougan says.
Additionally, Matt Hougan goes on to say that “any ETF is a big step,”
Then, makes reference to several Bitcoin futures ETFs receiving the SEC’s approval and starting trading in October.
Notwithstanding, There’s still reasons Bitwise chooses to withdraw its own application.
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