NYSE Arca files paperwork for Bitwise Bitcoin ETF approval

posted 7 months ago
New details have surfaced about the Bitcoin exchange-traded fund (ETF) proposed by Bitwise and NYSE Arca. Bitwise Asset Management announced its intention to launch the ETF earlier this month. The proposal had only been posted on NYSE Arca’s website. When Bitwise first announced the ETF proposal, the company said it differed from other efforts because a regulated third-party custodian would store the bitcoins. The company also said it would draw pricing data from a large number of exchanges, including both spot and physically settled futures markets, to calculate the index determining the assets’ value.

“The Exchange believes that the proposed rule change is designed to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest,” the proposal says. The clock has not yet started for its approval or rejection because the SEC’s deadline for deciding an ETF proposal is triggered by publication in the Federal Register which won’t happen until after the government shutdown ends. All previous Bitcoin ETF proposals have been withdrawn or rejected.
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