Bitwise Revises Bitcoin Exchange-Traded Fund (ETF) Filing

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Bitwise Asset Management, a leading crypto asset manager based in San Francisco, has made significant revisions to its proposal for a Bitcoin Exchange-Traded Fund (ETF). The move comes after the U.S. Securities and Exchange Commission (SEC) raised concerns about the initial filing.

The primary concern from the SEC was the use of daily data for the ETF’s pricing mechanism. The regulatory body questioned the rationale behind using daily data intervals rather than more frequent intervals, which could provide a more accurate representation of the asset’s value throughout the trading day.

ETF Newz Says:

In response to the SEC’s feedback, Bitwise has updated its proposal to include more frequent data intervals for pricing. The revised proposal aims to provide potential investors with a more accurate and transparent view of the asset’s value, reducing the risk of price manipulation.

Bitwise’s initial proposal for a Bitcoin ETF was one of several submitted to the SEC over the past few years. The regulatory body has been cautious about approving such products due to concerns about market manipulation, liquidity, and investor protection.

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