Bitwise wants to register a new bitcoin ETF

Bitwise has filed an application with the US Securities and Exchange Commission (SEC) to register a new bitcoin ETF called the Bitcoin Strategy Optimum Yield ETF (BITC). Company representatives said that their Bitcoin Strategy Optimum Yield ETF will provide an opportunity to invest in short-term debt securities and futures.

A distinctive feature from ordinary investments in such securities and futures will be the absence of an automatic transition to the next contract in accordance with the desired schedule. Instead of switching to a new type of contracts, investors will be able to renegotiate the current contract with the help of BITC. Thus, according to Bitwise, it will be possible to achieve maximum income in the current market conditions.

However, when it comes to earnings, Bitwise did not disclose the amount of fees they will charge investors for managing the fund they will invest in.

Bitcoin is currently quoted at $16,500. On the 22nd, BTC reached its two-year low and dropped to $15,482 at the moment. According to many experts, bitcoin will continue to move down soon and reach the $10,000 mark, after which it may go to a new bull run.

The same opinion is shared by Bitwise, who filed an application for registration of a new bitcoin ETF. The act of filing the application itself speaks of the same. According to Bitwise, bitcoin is still alive and will continue its march to the top. It is for this reason that they decided to make such a project, as Eric Barciunas, who works in the research department of Bloomberg Intelligence, told.