Bitwise sent request for feedback applications for the launch of Bitcoin and Ether Market Cap Weight Strategy ETF dated August 3rd.
The exchange fund meant the acquisition of the first and second largest cryptocurrencies in terms of capitalization in relation to their market capitalizations.
The decision followed the transfer SEC verdict on applications to launch spot bitcoin ETFs from BlackRock, Fidelity, Bitwise, VanEck, WisdomTree, Invesco and Valkyrie until at least mid-October.
At that time, the Commission will still have the right to extend the review period until January, March, April and May 2024.
Earlier, Bitwise applied for a launch based on exchange-based futures on Ethereum. A week later, the company withdrew it.
Following Grayscale’s legal win against the SEC, Bloomberg analysts James Seiffart and Eric Balciunas put a 75% chance of launching a spot bitcoin ETF before the end of 2023.
Source: Cryptocurrency
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