Bitwise to File BTC ETF Application at NYSE Arca

Bitwise Bitcoin ETF is going to be based on an index that aggregates data from large and trustworthy trading platforms
11 January 2019   1099

Bitwise Cryptocurrency Fund submitted a Form S1 application to launch Bitcoin-ETF to the US Securities and Exchange Commission (SEC). The company plans to place its shares on the NYSE Arca Stock Exchange.

Note that, according to the statement, Bitwise Bitcoin ETF will be based on an index that aggregates data from large and trustworthy trading platforms. Bitwise also intends to delegate the storage of bitcoins, which will underlie the shares to the regulated custodian, which should convince the SEC of the reliability of the enterprise.

The SEC has asked thoughtful and relevant questions about the quality of the crypto trading ecosystem, the reliability of crypto pricing, the strength of the arbitrage function in crypto and the robustness of crypto custody. We have spent the past year researching these questions and look forward to discussing those findings with the SEC staff in connection with the filing and listing application.

Matt Hougan

Global Head of Research, Bitwise

It is worth adding that the company is applying for the launch of Bitcoin-ETF for the second time. In the summer, Bitwise submitted the relevant documentation to the exchange-based fund based on the HOLD 10 index, which is focused on the ten most liquid cryptocurrencies.

PBoC to Continue Anti-Crypto Propaganda

The regulator published a warning in its WeChat account called “Protection of the rights and interests of consumers of financial services”
23 March 2020   318

The People's Bank of China has returned to criticism of cryptocurrencies amid a worsening economic situation in the world.

On March 22, the regulator published a large-scale warning in its WeChat account under the heading “Protection of the rights and interests of consumers of financial services”. It describes three ways in which cryptocurrency service providers can mislead consumers.

First of all, the amount of fraud transactions with bots is serious. The average turnover rate of the top three overseas crypto currency exchanges is much higher than that of foreign licensed exchanges. Second, market manipulation exists in these exchanges where forced leveraged trading eventually causes the exchanges to explode. Third, money laundering is a big issue.


People's Bank of China

In addition, the Chinese Central Bank calls the opinion that Bitcoin may serve as a protective asset, erroneous. The regulator indicates its high volatility and recommends that citizens not follow the example of other investors and refuse to participate in cryptocurrency trading.