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Bitwise pulls back application for Bitcoin and Ether Market Cap ETF

Bitwise pulls back application for Bitcoin and Ether Market Cap ETF

Bitwise, an asset manager, has unexpectedly withdrawn its application for a Bitcoin and Ether Market Cap Weight Strategy exchange-traded fund (ETF) with the United States Securities and Exchange Commission (SEC). The company stated that there is no assurance that the fund will achieve its investment objective. Bitwise’s chief investment officer, Matt Hougan, has previously advocated for SEC approval of all ETFs. The SEC has delayed its decision on several Bitcoin ETF applications, and the next set of deadlines is in mid-October. This is not the first time Bitwise has withdrawn an ETF application, as it previously withdrew an application for an Ethereum Strategy ETF.

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