Bitwise, the cryptocurrency pioneer, believes the market is ready to accept the Bitcoin ETF. Over the past 2 years, there have been several key changes that “materially improved” the cryptocurrency market.
Bitwise has prepared a 30-page report for the SEC to prove that a fully regulated Bitcoin ETF already has a solid foundation. Company representatives note that one of the key factors is that the spot market has become more efficient, and the storage of Bitcoins has become institutional. Besides, there has been a significant increase in the regulated futures market over the past couple of years.
The regulator shared a Bitwise report. Recall, at the moment, this company is awaiting for SEC to consider the application for launching the Bitcoin ETF Trust. If the answer is positive, we will see the first fully regulated Bitcoin exchange fund in the United States of America.
Note that the previous Bitwise report caused quite a stir. The material stated that 95% of the cryptocurrency trade volume is fake. This information helped “shake the industry” and brought positive changes.