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19 February 2020

Bitwise Withdraws Long-Standing Bitcoin ETF Application

Bitwise Withdraws Long-Standing Bitcoin ETF Application


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Bitwise Withdraws Long-Standing Bitcoin ETF Application.

14 form with the United States Securities and Exchange Commission (SEC) confirms that Bitwise Asset Management requested the withdrawal of its application for a Bitcoin (BTC) Exchange Traded Fund (ETF).

In March of the same year, it had released the Bitwise Report on exchange volume, claiming that 95% of trading volume is fabricated.

By disregarding the majority of the exchange volume, the firm maintained that price formation for BTC occurred mostly on regulated exchanges.

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