RATE Group | Bitwise joins the race to launch SEC-regulated cryptocurrency ETF
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Bitwise joins the race to launch SEC-regulated cryptocurrency ETF

25 Jul Bitwise joins the race to launch SEC-regulated cryptocurrency ETF

Posted at 10:33h in Cryptocurrency News by

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San Francisco-based asset manager Bitwise is joining the race to launch a regulated ETF for cryptocurrency, which if approved could help struggling bitcoin prices.

The company filed with the U.S. Securities and Exchange Commission Tuesday for an exchange traded fund that would track an a basket of 10 cryptocurrencies, including bitcoin.

The U.S. financial watchdog has yet to approve a cryptocurrency-based ETF. Rumors that it could say yes to another application filed by money manager VanEck and SolidX as soon as August helped bitcoin break above the $8,000 mark this week.

“We’re joining the queue,” Matt Hougan, Bitwise global head of research told CNBC. “The market is professionalizing in a direction that the SEC would allow a crytpo ETF onto the…

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