Bitwise wants the Bitcoin ETF – Who makes the race?

the The California-based crypto Start-up Bitwise filed on 10. January a request for approval of a other Bitcoin ETFs. The Ball is now again in the US stock market regulator Security and Exchange Commission (SEC).

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14. January 2019TeilenFacebookTwitterLinkedInxingemail

shut up, what is the number? Who has not, who wants it? The stage for the next ETF application in the United States.

Bitwise Asset Management of San Francisco, increases in the race for the approval of the first on Bitcoin-indexed, exchange-traded funds in the United States. This is supposed to be, according to an official request under the name Bitwise Bitcoin ETF on the Chicago stock exchange NYSE Arca, a subsidiary of Intercontinental Exchange, traded.

the Performance of The Fund the Start-up measures according to the application of the Bitwise Bitcoin Total Return Index. This is calculated Bitwise "on the basis of the Bitcoin courses [Bitwise] from the courses on the crypto-exchanges." According to the SEC's request, the Bitcoin rates from over 200 international Exchanges in the Index.

in addition, the Bitwise Bitcoin ETF is also in other applications than the traded Bitcoin are deposited to be 100 percent physically.

"The proposed ETF differs from the previously submitted Bitcoin ETFs by certified asset managers hold the tradable Bitcoin physically, and that the Index prices of a large number of Exchanges."

for this reason, John Hyland, the ETF Manager at Bitwise, confident that "2019 is the year that a Bitcoin ETF will be launched."

not to say Whether it will be of its own time, but also Hyland. This would, however, speak of a "Second Mover advantage". Because Bitwise had the opportunity to learn from the mistakes of the amendments:

"We have spent the last year in order to examine relevant questions on the part of the SEC] and look forward to discussing this with the SEC staff in connection with the admission",

says Matt Hougan, Research Manager at Bitwise in a press release.

Read also: SEC report: Also Paragon and Airfox of penalties against ICOs

VanEck versus Bitwise

concerned That the U.S. securities and exchange Commission leaves a lot of time to decide on an ETF application, showed on the example of the VanEck SolidX Bitcoin ETF. After the SEC postponed the decision on the approval again, you may on the 27. February expect a binding statement on the part of the authority.

the application decides That the SEC is the Bitwise-is unlikely.