Became known new details of the exchange’s bitcoin Fund (ETF), previously offered investment Fund Bitwise Asset Management and stock exchange NYSE Arca, reports CoinDesk.

Bid to launch a bitcoin ETF Fund Bitwise filed with the Commission on securities and exchange Commission (SEC) earlier in January. As then stated by the company, the NYSE Arca will soon publish a proposal to amend rule 19b-4.

As we now know, this was done on the same day, but was not displayed on the website of the SEC, in all probability in connection with the ongoing U.S. shutdown. The document was published on the website of NYSE Arca, but all this time was in the shade.

When Bitwise announced the proposal to launch a bitcoin ETF, the company noted that it differs from other similar initiatives because it involves the participation of a qualified third-party custodian bitcoins. It was also stated that the index which determines the price of an asset will be formed on the basis of a large number of exchanges, including futures markets, spot, and with physical delivery.

Published a proposal affects, among other things, the methodology of the index. For example, preference will be given to the prices from the exchanges with higher trading volume in the previous hour.

“The exchange believes that the proposed rule change is designed to prevent fraudulent and manipulative acts and practices, protecting investors and the public interest”, — the document says.

The NYSE Arca proposal also addresses the issue of concern to the regulator the impact of manipulation can have on the bitcoin market.

“Given the fungible nature of bitcoin, the provider of the index believes that the potential impact on its cost to the individual exchanges, faced with the attempts of external manipulation with the stated amounts or prices, offset by the fact that data on prices and volumes are taken from a large number of exchanges.”

Note that at the moment, while the US continues shutdown — the shutdown of the government in connection with the delay in adopting the budget at the end of December 2018 – SEC is unable to set a final date until which you must make a decision on this proposal.

The shutdown has also affected the plans of companies VanEck and SolidX, whose bid to launch a bitcoin ETF was withdrawn earlier this week. Later VanEck CEO Jan van Eyck stated that after the resumption of normal operation of state institutions, the application shall be submitted anew.

And it is possible that this may happen soon enough: according to the latest reports, the US President Donald trump can now announce arrangements for three weeks to resume work at the institutions.