Bitwise Asset Management decided to withdraw a previously submitted application for the launch of its own traded Bitcoin ETF, as the head of the company’s research department, Matt Hougan said, The Block informs.
He believes that this decision is in the public current interest, also it protects the rights of investors.
“We did indeed withdraw the application. This is a procedural step, and we intend to refile our application at an appropriate time.” – Hougan said.
He said that the company still doesn`t deny the idea to develop Bitcoin ETF, and employees will continue to work on all the clarification points requested by SEC experts the day before.
Recall that the Bitwise application was submitted exactly a year ago, in January 2019. The consideration of this document was repeatedly postponed. After all, the SEC rejected it, referring to the non-compliance of the company’s product with the basic requirements aimed at preventing possible market manipulations and other illegal actions.
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