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The San Francisco-based asset management company, Bitwise filed for “the first publicly-offered cryptocurrency index exchange-traded fund (ETF)” amid the varied perspectives between highly constructive crypto-aspirants and diplomatic regulators across the globe.
Yesterday, the U.S. Securities and Exchange Commission (SEC) postponed deciding on whether to approve Bitcoin-related exchange-traded funds (ETFs) until September, public documents divulge.
The SEC states:
"The Commission finds it appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient time to consider this proposed rule change. Accordingly, the Commission designates September 21, 2018, as the date by which the Commission shall either approve or disapprove the proposed rule change."
While Bitwise Asset Management publicized on Tuesday, that it has filed for a registration of “the first publicly-offered cryptocurrency index exchange-traded fund (ETF).”
Founded in 2017, Bitwise Asset Management is a cryptocurrency asset manager. Bitwise launched the first cryptocurrency index fund, the firm already manages “the world’s first cryptocurrency index fund, the Bitwise Hold 10 Private Index Fund through private placement,” the firm described. The top-notch components of this index fund are 55% BTC, 20% ETH, 9.4% XRP, 6.4% BCH, 2.6% LTC as of last June.
The firm is a partner to individuals, financial advisors, family offices, investment managers, and institutions in navigating cryptocurrency. Bitwise is equipped with a top class leading institutional and individual investors, including Blockchain Capital, General Catalyst, Khosla Ventures, Naval Ravikant, Alison Davis, David Sacks, Elad Gil, Adam Ludwin, Adam Nash, Suna Said, and Avichal Garg.
The team behind Bitwise, which includes several veterans of the ETF industry, has expertise in technology, security, indexing, and asset management, and is headquartered in San Francisco.
BTCUSD (at BITFINEX) is trading at $8,298 as the recent bullish sentiments have halted today at $8,488.1 levels while articulating amid all the developments.
Currency Strength Index: FxWirePro's hourly BTC spot index is flashing at 103 levels (which is bullish), while hourly USD spot index was at -54 (bearish) while articulating at (08:50 GMT). For more details on the index, please refer below weblink:
