Bitwise Withdraws Bitcoin and Ethereum Basket ETF Application

Bitwise filed a withdrawal request for the Bitcoin and Ether Market Cap Weight Strategy ETF application dated August 3.

The fund was to hold the two largest cryptocurrencies by market capitalisation in proportion to their market capitalisations.

The decision followed the delay by the SEC verdict on applications to launch spot bitcoin ETFs from BlackRock, Fidelity, Bitwise, VanEck, WisdomTree, Invesco and Valkyrie at least until mid-October.

At that time the Commission would retain the right to extend the review period to January, March, April and May 2024.

Earlier Bitwise filed an application to launch an Ethereum-based futures ETF. A week later the company withdrew it отозвала.

Earlier, after Grayscale’s legal victory against the SEC, Bloomberg analysts James Seyffart and Eric Balchunas estimated the probability of launching a spot bitcoin-ETF by the end of 2023 at 75%.