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Bitwise will pursue Bitcoin spot ETF, since investors ‘better served’ by spot exposure
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The launch of the very first Bitcoin ETFs in the US was marked by widespread excitement and record-breaking numbers. This was also followed by a number of asset management firms flocking to the SEC with their own applications for a Bitcoin Futures-backed ETF, with varying degrees of creativity.
However, what most enthusiasts have really been waiting for all along is a spot-based Bitcoin ETF that tracks the cryptocurrency’s price in real-time.
In solidarity with this request, Bitwise Asset Management has withdrawn its application for a Bitcoin (BTC) futures-based exchange-traded fund (ETF), while remaining bullish on the need for a spot Bitcoin ETF, according to a Twitter announcement by Bitwise CIO Matt Hougan.
While noting that the firm’s
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