Bitwise (vis NYSE) filed (again) a 19b-4 just now for a “GLD for bitcoin”-style physical ETP — one that would actually own bitcoin. That in itself isn’t news: At this point, so many people have filed and withdrawn those types of applications, it’s hard to even keep track. The 19b-4 is the real “mother-may-I” for any of these types of products — it’s the permission to list and trade, essentially, when the 1940 Act isn’t involved. It’s the research bomb Bitwise dropped that’s the real story: 150 pages of detailed analysis on bitcoin trading. And it may actually point towards a bitcoin futures ETF launch sooner rather ... (full story)