Cryptocurrency Bitwise Fund filed Form S1 to launch a bitcoin ETF to the Commission on securities and exchange Commission (SEC). New shares of the index Fund, the company plans to list on the NYSE Arca.
Bitwise announced today the filing of an initial registration statement on Form S-1 with the U.S. Securities and Exchange Commission (SEC) relating to a proposed new physically held exchange-traded fund. https://t.co/2k23ghuWss and https://t.co/tNKE4XNNni
— Bitwise (@BitwiseInvest) January 10, 2019
Note that, according to the statement, the bitcoin ETF from Bitwise will be based on the index, which aggregates data from a large and trustworthy trading platforms. Bitwise also intends to delegate the storing of bitcoins, which will be the basis of the stock, a regulated custodian that is to convince the SEC of the reliability of the company.
“SEC asks reasonable and relevant questions about the quality of the ecosystem cryptotrading the reliability of the mechanism of formation of the prices of cryptocurrencies, arbitration and the willingness of custodial decisions. For a year we explored these themes and are now ready to discuss our conclusions with the Agency in the context of the application”, — said the head of the research division Bitwise Matt Hogan.
I should add that the company applies to launch a bitcoin ETF for the second time. Summer Bitwise filed the appropriate documentation for the exchange traded Fund based on the index HOLD 10, based directly on the ten most liquid cryptocurrency.
On the agenda of the SEC again proved to be a bitcoin ETF
Recall, a company founded by former employees of Facebook and Google, introduced the index in October 2017.
Meanwhile, the founders of the exchange Gemini brothers Winklevoss also did not give up and do not intend to abandon plans to launch its own bitcoin ETF.