{"id":21799,"date":"2020-01-15T17:25:06","date_gmt":"2020-01-15T16:25:06","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=21799"},"modified":"2023-08-30T09:19:43","modified_gmt":"2023-08-30T09:19:43","slug":"bitwise-asset-manager-files-for-withdrawal-of-bitcoin-etf-from-the-sec","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/bitwise-asset-manager-files-for-withdrawal-of-bitcoin-etf-from-the-sec\/","title":{"rendered":"Bitwise Asset Manager Files for Withdrawal of Bitcoin ETF from the SEC"},"content":{"rendered":"
Crypto asset manager Bitwise has filed for a withdrawal of its proposed Bitcoin ETF with the SEC which was still under consideration following its October 2019 rejection.<\/p>\n
A notice appearing on the SEC registration portal dated January 14th shows that Bitwise is requesting the commission to disregard its initial application for a Rule change that would have allowed the company to create the first US-regulated Bitcoin Exchange Traded Fund (ETF). The company initially submitted the proposal on January 10th, 2019 and underwent a series of delayed decisions from the commission through its October rejection.<\/p>\n
Soon after its rejection, the SEC commissioners announced that they would review the decision which gave Bitwise and other interested parties the hope that the commission would approve the proposal. The commission released a 112-page document<\/a> detailing the decision that was made in order to reject the proposal, which Bitwise has been reviewing as it considers revising its proposal. According to reports, Bitwise may be planning to reapply the proposal with considerations as suggested by the commission.<\/p>\n \u201cAt this time, the Registrant has determined not to pursue the registration and sale of the securities covered by the Registration Statement,\u201d <\/em>Bitwise wrote in its request for withdrawal of the application. \u201cThe Registrant believes that this withdrawal request is consistent with the public interest and protection of investors as required by Rule 477(a) of the Act and represents, in accordance with Rule 477(c) of the Act, that there has been no issuance, distribution or sale of the securities under the Registration Statement.\u201d<\/em><\/p>\n <\/p>\n