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Bitwise Revises Bitcoin Exchange-Traded Fund (ETF) Filing

Bitwise Asset Management, a leading crypto asset manager based in San Francisco, has made significant revisions to its proposal for a Bitcoin Exchange-Traded Fund (ETF). The move comes after the U.S. Securities and Exchange Commission (SEC) raised concerns about the initial filing.

The primary concern from the SEC was the use of daily data for the ETF’s pricing mechanism. The regulatory body questioned the rationale behind using daily data intervals rather than more frequent intervals, which could provide a more accurate representation of the asset’s value throughout the trading day.

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CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin67,686 0.16 % 2.66 % 3.09 %
Litecoin85.89 0.26 % 0.69 % 4.67 %
XRP0.5303 0.07 % 0.23 % 2.64 %
Ethereum2,197.2 0.23 % 0.67 % 2.46 %
Dogecoin0.1548 0.37 % 0.09 % 7.69 %
Solana169.59 1.23 % 4.83 % 4.54 %
USDC1.000 0.10 % 0.02 % 0.08 %
Cardano0.2543 0.15 % 1.68 % 3.38 %
Tether0.9990 0.10 % 0.04 % 0.02 %
Binance Coin (Wormhole)222.47 0.38 % 4.71 % 3.08 %