Bitwise Files Request for Rule Changes to Accommodate Its Planne

Bitwise Asset Management filed a document on June 16 requesting rule changes to accommodate its planned bitcoin spot ETF. The U.S. Securities and Exchange Commission (SEC) rejected Bitwise’s previous application for a bitcoin spot ETF in June 2022. At the time, the SEC said Bitwise’s ETF could not enable adequate oversight sharing, provide protection against market manipulation, or demonstrate the size of the underlying market.
However, the SEC has indicated that future filings may meet these criteria, and Bitwise sought to demonstrate this in its latest filing. Additionally, in the new filing, BitWise stated that the SEC should have 45 to 90 days to approve, reject or initiate other processes surrounding its proposed rule changes