RATE Group | On bitcoin ETF approval, ‘closer than we’ve ever been,’ says Bitwise
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On bitcoin ETF approval, ‘closer than we’ve ever been,’ says Bitwise

07 Oct On bitcoin ETF approval, ‘closer than we’ve ever been,’ says Bitwise

Posted at 22:33h in Bitcoin News by

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It’s a make-or-break moment for bitcoin ETFs.

The Securities and Exchange Commission has set an Oct. 13 deadline for approving a bitcoin-based exchange-traded fund from Bitwise Investments, a move that could mark a meaningful milestone in bitcoin’s long-term growth story.

The digital currency has been volatile this year, falling by over 20% in one week in late September to its lowest level since July amid increasing skepticism and uncertainty. Bitcoin hit its 2019 high of over $11,000 in June, according to cryptocurrency exchange Bitstamp.

Interestingly, bitcoin is still 2019’s best-performing asset, up almost 123% for the year.

That volatility isn’t stopping Matt Hougan, managing director and global head of research at Bitwise, from being optimistic about the prospects for his firm’s bitcoin ETF, which, if approved, would trade as the Bitwise Bitcoin ETF Trust.

“We’re closer than we’ve ever been before to getting a bitcoin ETF approved,” Hougan, former CEO of Inside ETFs, said Monday…

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