Bitwise made a surprising move by withdrawing its proposal for an ETF that tracks the market cap weight of Bitcoin and Ether, which it had submitted to the SEC on August 3.
The market mood was positive after Grayscale’s ETF got approved by the SEC, but Bitwise seems to be rethinking its plan.
The ETF application’s cancellation was not expected; however, the filing said, “The fund aims to offer investors capital growth.The fund’s success in meeting its goal is not guaranteed.”
