Bitwise Revises Spot Bitcoin ETF Application with Enhanced Argumentation

Bitwise Asset Management has submitted an updated application for a spot exchange-traded fund (ETF), which includes 40 additional pages addressing the concerns raised by the United States Securities and Exchange Commission (SEC). However, a company executive cautioned that this enhanced submission may still fall short of meeting regulatory standards.

Bitwise is one of six financial firms with pending applications for a spot Bitcoin (BTC) ETF, all of which are currently paused following the SEC’s decision to postpone their evaluations. This pause occurred after a court reversed the SEC’s earlier decision to reject Grayscale Investments’ attempt to convert its over-the-counter Bitcoin Trust into a listed BTC ETF.