Crypto startup Bitwise Asset Management has proposed a new bitcoin exchange-traded fund (ETF) that it says would address the regulatory concerns that doomed previous attempts. The company has filed an initial registration form proposing the Bitwise Bitcoin ETF Trust with the U.S. Securities and Exchange Commission (SEC). The fund would track the Bitwise Bitcoin Total Return Index, which measures the value of bitcoin plus any “meaningful hard forks.” If the ETF is approved, its shares will be listed on NYSE Arca, which focuses on trading stocks and options (rather than large-cap stocks, which are traded on the New ... (full story)

The Bitwise Bitcoin ETF Trust (the “Trust”) is an exchange traded fund that issues shares that trade on the NYSE Arca, Inc. stock exchange (the “Exchange”). The Trust’s investment objective is for the shares to reflect the performance of the total returns available to investors in bitcoin, as measured by the performance of the Bitwise Bitcoin Total Return Index (the “Index”), less the expenses of the Trust’s operations. The Trust is sponsored by Bitwise Investment Advisers, LLC (the “Sponsor”). The Sponsor manages the Trust’s investments. In seeking to track the price of bitcoin, the Sponsor will invest the Trust’s ... (full story)