{"id":376587,"date":"2019-03-31T17:41:33","date_gmt":"2019-03-31T17:41:33","guid":{"rendered":"https:\/\/wncen.com\/?p=376587"},"modified":"2024-06-11T21:14:40","modified_gmt":"2024-06-11T21:14:40","slug":"bitwise-bitcoin-etf-decision-set-for-may-btc-prices-up-2-3-percent","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitwise-bitcoin-etf-decision-set-for-may-btc-prices-up-2-3-percent\/","title":{"rendered":"Bitwise Bitcoin ETF Decision set for May, BTC Prices Up 2.3 Percent"},"content":{"rendered":"
It will be until mid-May when the US SEC decides on Bitwise Bitcoin ETF. Like the SolidX and VanEck application, this ETF is backed by Bitcoins secured by a third party custodian. Meanwhile, Bitcoin (BTC) prices are stable inside Mar-29 high-low as bulls build momentum towards $4,500.<\/p>\n
For the second time, the US SEC is putting off their decision on whether Bitwise Bitcoin ETF application meets their requirement and ready for investors. By doing so, the asset management firm joins a long list of applicants including VanEck, SolidX, and CBoE a joint application which the community says stand a change of getting the green lights from the US regulator.<\/p>\n
Submitting their file in January, the San Francisco firm plans to roll out a physically backed ETF and after 45 days, the SEC was supposed to make their decision tomorrow. However, the regulator says their decision will be made public in mid-May. Bitwise Bitcoin ETF will track the performance of the world\u2019s largest digital asset from the Bitwise Bitcoin Total Return Index. The index draws prices from trusted cryptocurrency exchanges.<\/p>\n
Differentiating itself, their Bitcoins will be stored in a cold wallet by an institutional grade third-party custodian for security and accountability purposes. Should the fund check all the requirements then the NYSE Arca shall list the ETF will Bitwise Index Services will be tasked with producing and servicing the world\u2019s first Bitcoin ETF approved by the strict SEC.<\/p>\n
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