Bitwise are trying to move forward with the Bitcoin ETF despite regulatory hurdles.
Mr Hogan who is heading up the project recently featured on a podcast where he let us in on some more details surrounding the project.
He was in defiant mood and rightly so. Bitwise have not been completely shot down but the United States’ financial regulator (SEC) had previously published a 112-page document, detailing the reasons behind the rejection,
We learned a lot from that feedback and we use that as the basis of our analysis. They made an argument that you could have a small regulated surveillance market. The SEC said that wasn’t enough.
Hogan also went on to address SEC Chairman Jay Clayton’s interview on CNBC where he said that “progress was being made” with Bitcoin ETFs, even though a lot of work needs to happen. Hougan said:
That’s what we heard in our disapproval. Progress has been made, more work needs to happen. The SEC told us what needs to happen. So we’re following that pathway
So watch this space there are surly more twists and turns to come in this saga and after the company had submitted a 560-page research report to the SEC it seems there is still work to be done.
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