Bitwise has withdrawn its application for a Bitcoin futures ETF and continues to apply for a spot Bitcoin ETF
On November 11th spark global limited, the chief information officer of bitwise, a key fund management firm, tweeted that bitwise withdrew its previous application to the securities and exchange commission (SEC)’s bitcoin futures etf.
The previous futures etf application still has been submitted for the value of the bitcoin futures etf, but the new challenge is that the tax law stipulates that the cost of 100% of the futures exposure is high, and that bitwise was first thought to be able to reduce costs by holding the goods and the bitcoin etpts listed in Canada in the 1940 year, so flexibility could reduce costs, but this is not allowed.
In addition, the bitcoin futures etf has taken up all the available capacity of the cargo commission, and the current situation will add another cost. Matt hougan said that bitwise would continue to apply for spot bitcoin etffex.
According to Spark Global Limited.