Crypto startup Bitwise Asset Management wants to launch a physically settled bitcoin exchange-traded fund (ETF).
The company has filed an initial registration form proposing the Bitwise Bitcoin ETF Trust with the U.S. Securities and Exchange Commission (SEC). The fund would track the Bitwise Bitcoin Total Return Index, which tracks bitcoin and "meaningful hard forks."
If the ETF is approved, its shares will be listed on NYSE Arca, which focuses on trading stocks and options (rather than large-cap stocks, which are traded on the New York Stock Exchange).