Bitwise withdraws Bitcoin and Ether Market Cap ETF software

In an surprising flip of occasions, Bitwise submitted a request to retract its software for its and Ether Market Cap Weight Technique exchange-traded fund (ETF), initially filed with the USA Securities and Alternate Fee (SEC) on Aug. 3.

Whereas market sentiment turned bullish following Grayscale’s SEC victory, Bitwise seems to be reassessing its technique. The withdrawal of the ETF software was surprising; nevertheless, within the submitting, a press release learn, “The fund seeks to offer traders with capital appreciation. There might be no assurance that the fund will obtain its funding goal.”

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