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Bitwise filed an application for registration of the cryptocurrency ETF


American company Bitwise Asset Management has filed with the US Securities and Exchange Commission (SEC) an application for the registration of a cryptocurrency index fund (ETF). This was said in a statement.
It is assumed that the fund will work with the index HOLD 10, consisting of the ten largest cryptocurrencies. At the same time, the company will provide access to the ETF index fund not only to institutional investors but also to retail investors.
To date, HOLD 10 includes bitcoin, Ethereum, XRP, Ethereum Classic, Monero, ZCash, Bitcoin Cash, Stellar, Litecoin and Dash. According to the Bitwise Global Head of Exchange-Traded Products John Hyland, the company is waiting for an invitation from SEC representatives to discuss the application, as the regulator is now considering the possibility of resolving cryptocurrency ETFs.
Matthew Hogan, head of Bitwise research, told Forbes that in the future, investors’ access to regulated products and ETF will only grow. This will happen if the SEC goes to meet the industry.
In June, the Chicago Stock Exchange (Cboe) also applied to the SEC for the registration of an investment fund directly tied to the bitcoin exchange rate. After that, the SEC launched a special section on its website, where investors could speak out about the creation of bitcoin-ETF. As a result, most of the commented market participants supported Cboe.
SEC delayed the decision on the five exchange bitcoin-ETF to September 21, 2018. The SEC has repeatedly received applications from blockchain companies for the creation of bitcoin-ETF, but so far none of them has received approval, as this may increase volatility in the market.

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