Bitwise Asset Management is the latest venture to apply for a cryptocurrency exchange-traded fund (ETF). Called the Bitwise HOLD 10 Cryptocurrency Index Fund, the ETF will track the returns of the company’s HOLD 10 Index, a “market-cap-weighted index of the 10 largest cryptocurrencies” that captures roughly 80 percent of the total cryptocurrency market capitalization.A registration statement has been filed with the U.S. Securities and Exchange Commission (SEC) but has not yet become effective. Until the SEC decides on whether to approve the ETF, related shares may not be sold, and offers to purchase the shares cannot be accepted by any of the company’s executives. Bitwise is not the first company to try and register a cryptocurrency ETF application. Earlier this month, waves were made when an application for a Bitcoin ETF from the VanEck SolidX Bitcoin Trust was not rejected as it had been in 2017, and was instead consulted upon with industry professionals. Following this period, the SEC posted the application for public comment to see if general consumers and traders showed interest. The application received positive feedback, and the SEC later announced that it was working on an outline for newer, less-restrictive legislation regarding open-ended ETFs to increase innovation in the financial space. John Hyland, the global head of exchange-traded products at Bitwise, stated, “We are aware that other inv... For Further Information Click on Below Button