April 18, 2021

Bitwise Asset Manager Applied For Cryptocurrency …

Bitwise Asset Manager Applies For Cryptocurrency ETF

The American company Bitwise Asset Management has sent an application to the US Securities and Exchange Commission (SEC) to register a cryptocurrency exchange-traded fund (ETF), writes Forbes.

In its press release, the company says the ETF will track the movements of its HOLD 10 index, which includes the 10 largest cryptocurrencies. Bitwise intends to provide access to ETFs to both institutional and retail investors.

Bitwise Co-Founder and CEO Hunter Horsley stated that the HOLD 10 Index is a valuable tool for investors as it is not limited to one particular cryptocurrency. “It is not known how things will be in 5 or 10 years,” he said. “The HOLD 10 Index offers wider coverage, is updated monthly and adapts to the market.”.

Bitwise Asset Manager Applies For Cryptocurrency ETF The American company Bitwise Asset Management ...

The HOLD 10 Index currently includes Bitcoin, Ethereum, XRP, Bitcoin Cash, Stellar, Litecoin, Dash, ZCash, Monero, and Ethereum Classic. Bitwise also operates an accredited investor fund based on the HOLD 10 Index.

Bitwise Asset Manager Applies For Cryptocurrency ETF The American company Bitwise Asset Management ...

“We rely on the SEC staff to continue negotiations with investment companies submitting their cryptocurrency applications to this day. We are waiting for the opportunity to discuss the nature of the proposed proposal with the SEC ourselves, ”said John Highland, head of exchange products at Bitwise..

Bitwise Asset Manager Applies For Cryptocurrency ETF The American company Bitwise Asset Management ...

Bitwise’s head of research, Matt Hogan, expects investor access to regulated products to increase over time. “When we get to the point where the SEC is determined to allow such funds, the level of investor protection will improve,” he said..

Previously, investment manager VanEck, whose ETF application is one of the most promising, gave the SEC “competent answers” regarding the risks of similar products.

Bitwise Asset Manager Applies For Cryptocurrency ETF The American company Bitwise Asset Management ...

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