Bitwise files for Bitcoin ETF

Due to increased chances of Bitcoin Exchange Traded Fund approval, Bitwise filed for the spot Bitcoin ETF. 

In the present time, Bitcoin is pumping with bull speed and hitted the rate of $61,500 last night. All the credit to increase in the price of bitcoin goes for the Bitcoin futures ETF approval , which is close to dates of October. Many experts believe that US regulators will start their investigation and action to give approval for the ETF filing as per the statement of US SEC. 

Read also: Report says SEC will not block Bitcoin futures ETF product by next week

Amid increasing positive vibes for the Bitcoin futures ETF filing approval, BitWise filed for the Bitcoin spot ETF to give exposure to the digital assets based Investment for the people at high level. 

The BitWise Investors CIO claimed that they are not going with the Bitcoin futures ETF because there are many risks associated with it and there are huge costs and limitations associated with it. 

Matt Hougan, Bitwise Invest CIO, stated 

“A futures-based Bitcoin ETF comes with ~6-12% all-in costs, ~15% dilution, and tail risk. Useful for certain investors, but not ideal. A direct BTC ETF avoids all that.”

Bitcoin Futures ETF vs Bitcoin ETF  Approval

According to reports, In the present time, Securities and Exchange Commission is doing full checkout about the field applications on the Bitcoin Futures and there are huge chances that they may give approval for this soon in the next week Because through the investors education account, SEC wrote for the investors that “be careful for the Futures ETF Investment”. 

But the approval for the Bitcoin spot ETF is suspended by 1.5 months. And it is expected that the SEC will take a look and give a green flag decision on Bitcoin ETF applications by November or December. And probably they want to give chances for the Bitcoin ETF more precisely.

Read also: ANZ bank settles debanking case with Australian Bitcoiner