Bitwise withdraws crypto futures ETF amendment
In a Sept. 22 post on X, Bloomberg Intelligence analyst James Seyffart reported Bitwise, the crypto index fund manager, has withdraw n their application to convert $BITC from a Bitcoin futures fund to a Bitcoin and Ethereum futures fund. This means the fund will remain as just Bitcoin exposure. Reason unknown Seyffart shared a letter from Bitwise’s General Counsel Katherine Dowling to the Division of Investment Management at the U.S. Securities and Exchange Commission (SEC) that said the trust is no longer seeking to change the strategy by the amendment . However, the letter did not provide much detail beyond its Aug. 10 submission. NEW: @BitwiseInvest has withdrawn their application to convert $BITC from a #Bitcoin futures fund to a Bitcoin & Ethereum futures Fund. It will remain just Bitcoin exposure. pic.twitter.com/ubQ6qT15vy — James Seyffart (@JSeyff) September 22, 2023 The analyst added that this news is not something to read into just yet; however, if V...