It’s called the Bitwise Bitcoin ETF and is physically backed, and it proposes to hold bitcoin with an insured regulated third-party custodian. Bitwise Asset Management and the New York Stock Exchange (NYSE) Arca had announced plans to launch a physically held bitcoin ETF earlier this year. Bitwise first filed the ETF proposal with NYSE Arca in January 2019, kicking off its most recent push to offer retail customers a regulated bitcoin product. 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”). Few days before the United States Securities and Exchange Commission (SEC) decides to approve or deny Bitwise’s bitcoin exchange-traded fund (ETF) application, the Head of Research, Bitwise Investment, is optimistic that the company is closer to getting its Bitcoin ETF, according to a report by CNBC on October 7, 2019. The omens for the Bitwise ETF proposal do not look good and, depending on whether the case is settled before December, so too are those for the Wilshire Phoenix one. The agency’s five commissioners will review a staff decision to reject the rule-change proposal for a bitcoin ETF made last month. The Bitwise executive’s optimism comes amidst bitcoin’s price crash in the past two weeks. Bitwise Asset Management is trying again to get approval from the Securities and Exchange Commission for a cryptocurrency ETF. This fact has led to many roadblocks for cryptocurrency-related projects. In a document published Tuesday morning, the U.S. Securities and Exchange Commission (SEC), who presides over such products, revealed … Bitwise first filed an application with the US Securities and Exchanges Commission for what would be the first-ever Bitcoin ETF in January of last year, after Like the SolidX and VanEck application, this ETF is backed by Bitcoins secured by a third party custodian. Bitwise Bitcoin ETF application decision date put off to mid-May; It will be until mid-May when the US SEC decides on Bitwise Bitcoin ETF. The fund invests exclusively in bitcoin and o"ers investors an innovative, cost-e#cient, and secure way to access the bitcoin market. In an earlier report by BTCManager, Matt Hougan, Managing Director and Head of Research at Bitwise Investment, gave reasons why the company was likely to get the Bitcoin ETF approved by the SEC. Why Endowments Are … The Securities and Exchange Commission has disapproved a proposed rule change that would allow Bitwise Asset Management’s Bitcoin ETF Trust to list and trade.