Bitwise continues to be optimistic with latest filing of BTC ETF in 2019

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Of-late, the cryptocurrency exchange-traded funds (ETFs) are branded as the trump card by many aspirants of the crypto-avenue who carry great deal of optimism that exchange-traded funds likely to stimulate cryptocurrencies with more authenticity in retail and institutional investors’ perspectives, while providing them with timely accessibility to those who already have a brokerage account.

However, the entire cryptocurrency industry has seen a struggle ever since the U.S. SEC (Securities and Exchange Commission) declined the Winklevoss twins’ attempts of launching a bitcoin ETFs.

We witnessed an initial registration statement on Form S-1 with the SEC by Bitwise, which is a cryptocurrency asset management firm, that has recently filed another application for Bitcoin ETF with the United States Securities and Exchange Commission (SEC). The previously filed BTC ETF application has already been rejected by the SEC in 2018.

Well, Bitwise announced through twitter about this filing that is intended for a physically-backed Bitcoin ETF listed on the NYSE Arca and the intended BTC ETF likely to monitor the Bitcoin Index.

Whether the proposals of bitcoin ETFs in 2019 can be a trump card for the entire cryptocurrency avenue or not, we provide some insights as to how to be perfectly-positioned for the launch of crypto ETFs and other relevant crypto-derivatives could give the crypto market a much-needed boost.

To elaborate, here are some additional insights into the following pointers:

  • How will Bitcoin ETFs and futures affect the crypto market share and the intrinsic value?
  • Will the support of Bakkt set a precedent for key players of traditional financial markets to follow suit?
  • What other crypto investment tools can investors look forward to in 2019. Thereby, we mean unwise to rely solely on ETF matter.

 Currency Strength Index: FxWirePro’s hourly BTC -127 (bearish), hourly USD spot index is inching towards -121 levels (which is bearish), while articulating (at 05:19 GMT). 

For more details on the index, please refer below weblink: http://www.fxwirepro.com/currencyindex

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