Bitwise Asset Management, a crypto startup that pioneered the world’s first cryptocurrency index fund is now gunning to launch the world’s first Bitcoin exchange-traded fund (ETF).
The innovative crypto company has already filed an initial registration form with the US Securities and Exchange Commission (SEC) to propose a Bitwise Bitcoin ETF Trust. Bitwise’s proposed ETF would purportedly address the regulatory concerns that have thus far doomed other Bitcoin ETFs from launching.
Bitwise’s Unique Bitcoin ETF Proposition
According to the initial registration statement, the ETF would track the Bitwise Bitcoin Total Return Index, which takes the value of Bitcoin and any meaningful hard forks into account.
Moreover, what’s unique about Bitwise’s Bitcoin ETF is the company wants their fund to be supported with spot prices from exchanges and physically settled futures contracts. This is different from any other Bitcoin ETF that was proposed before, as previous ETFs were…