According to NewsBTC: “The answer is that ETFs are a well-understood construct that is plug-and-play with the existing software platforms, paperwork, processes, and workflows that professional investors and firms use,” wrote Bitwise in Anthony “Pomp” Pompliano’s Off the Chain newsletter.”

SEC & Bitcoin-related ETFs

In 2018, bitcoin shed almost 80% of its value. Among the issues plaguing bitcoin; last year were the ongoing unwillingness of U.S. regulators to approve bitcoin-related exchange traded funds as well as data indicating that mainstream acceptance and adoption of the digital currency are declining.

Related: Here’s Where Bitcoin Use is Surging

Bitwise launched the first cryptoasset index fund, the Bitwise 10 Private Index Fund, in 2017, and today offers five private funds focused on the crypto space to institutions, family offices, financial advisors and high-net worth individuals in the U.S. and abroad.

Currently, the Securities and Exchange Commission (SEC) is considering the Bitwise Bitcoin ETF and a bitcoin ETF with an institutional focus from VanEck and fintech company SolidX, but decisions on those products could be delayed because nearly all of the SEC’s staff has been furloughed because of the government shutdown.

For more information on the cryptocurrency market, visit the Bitcoin category.