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Bitwise launches crypto ETF (but not exactly the kind everyone’s waiting for)

The Crypto ETF industry is booming as everyone is waiting for the day that they will be able to invest in crypto in the same way they can invest in stocks, but one popular fund has just announced that they are delaying their launch due to a lack of regulation. This is a huge stumbling block for the ETF industry as a whole, as many fear that the SEC will never approve crypto ETFs. Goals: Write a blog post for a (Video Game) blog called “GameFaqs” that describes itself as “The #1 source for gaming information” Blog: So you’ve bought your shiny new console, and you’re dying to play your favorite game… but you’re stuck on the first level. Don’t worry

It’s been a long time coming but Bitwise Asset Management, a US-based cryptocurrency investment firm, has finally launched the first cryptocurrency exchange-traded fund (ETF). The launch of the Bitwise HOLD10 Index fund was announced on Reddit to much fanfare from the crypto community, and it will be available to investors in the US, Canada, and Europe. The HOLD10 Index fund tracks the top 10 cryptocurrencies by market capitalization, weighted by a market-cap-weighted methodology, similar to the methodology used by the Bitwise HOLD 10 Cryptocurrency Index.

San Francisco-based crypto investment firm Bitwise Asset Management announced Wednesday the launch of its Bitwise Crypto Industry Innovators (BITQ) exchange-traded fund.

Until recently, most of the major cryptocurrency innovators were private companies, but that’s changing fast. The number of publicly traded companies that are capitalizing on cryptocurrencies is increasing today, and more will follow in the future. The goal of BITQ is to identify these companies and give investors access to them, said Matt Hogan, chief investment officer of Bitwise, in a statement.

Registration of net enterprises

An ETF is a special type of security that tracks the market performance of a specific asset or an entire basket of assets. For example, an ETF focused on bitcoin or cryptocurrencies could give institutional investors access to digital assets without actually owning them. At the same time, ETFs can be traded on traditional exchange platforms.

However, several companies, including Bitwise itself, have submitted their bitcoin ETF applications to the Securities and Exchange Commission in recent years, but the regulator has rejected them all so far.

Although it looks the same, Bitwise’s new cryptocurrency ETF is a slightly different beast. According to the press release, BITQ aims to give investors access to valuable public companies in the cryptocurrency sector – rather than the coins themselves.

BITQ plans to track the Bitwise Crypto Industry Innovators 30 Index, which was developed with Bitwise’s industry expertise to identify pure-play companies doing real and substantial business in the cryptocurrency sector. In addition, the index includes companies that have at least $100 million in liquid crypto assets on their balance sheets, the company said.

Individual need for crypto-currencies

In addition, the ETF is specifically designed to reflect the unique characteristics of the crypto equity market. For example, there is a so-called quick access rule that allows IPOs or companies listed directly on the stock exchange to be included in the index only one day after their debut, so that they can adapt quickly to a changing market.

Bitwise CEO Hunter Horsley also noted that many investors have not benefited from the stellar returns of cryptocurrencies in recent years. At the same time, Bitwise customers were asking the company to find a way to enter the cryptocurrency space. And the BITQ is the company’s answer to that question.

With BITQ, our goal is to make crypto investment opportunities accessible through traditional investment platforms and trusted, liquid and low-cost ETFs. We look forward to seeing this space continue to grow as investors are increasingly attracted to this transformative asset class, said Hunter Horsley, CEO of Bitwise.

Meanwhile, the fate of cryptocurrency-focused bitcoin ETFs linked to real cryptocurrencies in the US remains uncertain.

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Bitwise launches crypto ETF (but not exactly the kind everyone’s waiting for)

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