The launch comes as cryptocurrency investors are awaiting the approval of a Bitcoin exchange-traded fund (ETF) from the Securities and Exchange Commission (SEC). With cryptoassets under the scrutiny of a regulatory organization like the SEC, it would help digital currencies obtain wider acceptance by the general investing audience.
“With significant positive developments on the horizon, including the launch of the Bakkt bitcoin futures exchange from ICE, the launch of Fidelity Digital Assets, and the continued movement of institutional investors like Yale University and Stanford University into the crypto space, we have seen significant inbound demand for high-quality bitcoin and ether funds,” said Matt Hougan, global head of research for Bitwise. “Our clients have been adding to their positions throughout the downturn, and many who’ve been following the space for a while are using this opportunity to finally come in.”
Both funds are open and taking subscriptions, with the first subscription date scheduled for today, December 5, 2018, at 4 p.m. ET.
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