The Securities and Exchange Commission (SEC) has once again proven its inability to make decisions regarding a cryptocurrency exchange-traded fund (ETF). This time, the helpless victim waiting on the sidelines is Bitwise, which initially filed for its ETF two months ago in January. A section of the Securities and Exchange Act of 1934 states that the SEC can postpone a decision-making process by...
In March 2017, the U.S. Securities and Exchange Commission (SEC) denied the first ever bitcoin exchange-traded fund (ETF) proposal. Since then, many bitcoin ETF applications have been filed by nearly ten companies, and many of them have been rejected by the SEC for similar reasons. This week, in a presentation to the SEC, Bitwise revealed that the overwhelming majority of the trading volume in...
Hands up, anyone who is surprised that a little-known crypto exchange that apparently had the largest bitcoin trading volume on CoinMarketCap has been exposed as a wash trading scam platform. In the world of crypto where apparently everyone made it to Lamboland during the 2017 bull run, and absolutely everybody knew when to sell, no one will admit that they have been played. Since Bitwise...
Bitwise Asset Management, a San Francisco crypto investment firm, has applied to the SEC for a Bitcoin ETF. In preparation for their application, they conducted a study of 80 exchanges, mostly unregulated. Their findings are worse than most: they found that almost 95% of all unregulated exchanges report fake volume. As such, their ETF will be based only on the 5% that is legitimate. Bitwise’s...
The bitcoin bull market was a bubble that burst in 2018, but the "painful" event had a major upside: It attracted a lot of money and talent to the burgeoning industry. That's the assessment of Matt Hougan, the global head of research at Bitwise, creator of the world's first cryptocurrency index fund. "It was a massive run-up and a massive pullback," Hougan told Bloomberg's Barry Ritholtz on his...
A multi-billion dollar investment advisor has launched a new cryptocurrency index fund built specifically for institutional investors, and the assets that aren't included in the fund will likely raise more eyebrows than those that are. Bitwise, Morgan Creek Create Crypto Index Fund for Institutions Announced on Tuesday, the Digital Asset Index Fund has been developed in partnership by Morgan...
Bitwise, a prominent cryptocurrency index fund, has filed with the U.S. Securities and Exchange Commission (SEC) to offer a cryptocurrency-based exchange-traded fund (ETF). In a press release issued on July 24th, the company stated that they intend to create an ETF called “Bitwise HOLD 10 Cryptocurrency Index Fund” which would be tied to the ten largest cryptocurrencies by market capitalization...
Matt Hougan has made a career shift from ETFs to cryptocurrencies. He jumped from the traditional fund market to a cryptocurrency index-fund manager, a market he described to Bloomberg as a "generationally significant opportunity with interesting challenges." He joins San Francisco-based Bitwise Asset Management as vice president of R&D. He made a splash with his call that cryptocurrencies...