It’s Invest Diva’s Kiana Danial https://www.investdiva.com/ with News BTC and here is your cryptocurrency update. A cryptocurrency ETF could be closer to launch than ever! For those investors who’ve patiently been waiting for an Exchange-Traded Fund, or an ETF that tracks cryptocurrencies, it is exciting to know that crypto asset management, Bitwise, has filed for one. The San Francisco-based company is joining a growing number of financial services providers looking to launch the first ETF for cryptocurrencies. Bitwise filed with the U.S. Securities and Exchange Commission on Tuesday for an exchange-traded fund that would track a basket of 10 cryptocurrencies, including bitcoin. The news could be one of the reasons behind the current cryptocurrency market surge, which got Bitcoin to surpass the $8,000 psychological level and break above the daily Ichimoku cloud. The Bitwise ETF will track the returns of its market-cap-weighted index of the 10 largest cryptocurrencies, called the HOLD 10 Index. They are looking to serve both retail and institutional investors. Other than Bitcoin, the HOLD 10 Index currently includes ethereum, XRP, bitcoin cash, lumens, Litecoin, dash, Zcash, Monero, and Ethereum classic. Although this could be an exciting news, it is important to remember that the SEC has not yet approved a cryptocurrency-based ETF. Back in 2017, the SEC rejected an application for a bitcoin-based investment vehicle by Cameron and Tyler Winklevoss, founders of the cryptocurrency exchange Gemini. In June 2018 the SEC sought public comments on an application by the CBOE for a bitcoin-based ETF, which got overwhelmingly positive comments. But still, we’ve got no crypto ETF to bank on. Let’s cross our fingers for one of these companies to win the crypto-ETF race. Until then, invest responsibly, and I’ll see you with more updates tomorrow.
Related Post:
- Switzerland Approves Amun AG Crypto ETF – SEC Bitcoin ETF Approval Soon? – Ripple Berkeley Grant
- New IRS Rules For Bitcoin And Crypto Holders. + SEC Rejects Bitwise ETF Proposal + Credits Shout-Out
- Bitwise’s Bid for a Cryptocurrency ETF
- The Dirty Game of #Cryptocurrency. TRUMP Appoints New SEC Commissioner – ETF Approval SOON.
- SEC Delays Bitcoin ETF Approval & Cryptocurrency Updates
- SBI Holdings Mr. Kitao Speaks on XRP Ripplenet R3 Corda, Bank of England XRP USE, Bitwise ETF
- NYSE ARCA Bitwise Bitcoin ETF – Fidelity Digital Assets – XRP FUD – Paycent XRP – Athena Bitcoin
- Pro Crypto Elad Roisman New SEC Chairman – Bitcoin ETF Approval & Ripple XRP Lawsuit Dismissal
- XRP Ripple news today: NEW opponent for SEC in SEC v. Ripple, Coinbase Crypto 401(k), Court approval
- SEC APPROVAL: XRP & Stellar Lumens (XLM) Approved By SEC Thailand | Last Chance To Buy Cheap Bitcoin
