In a recent development, asset manager Bitwise has withdrawn its application to transform its existing Bitcoin futures ETF (Bitwise Bitcoin Strategy Optimum Roll ETF) to one that invests in both Bitcoin and Ethereum futures contracts. This has raised speculations about the reason for this decision and what it means for the Ethereum futures ETFs projected to launch in October. Why Bitwise Withdrew Its Application Reporting this development on his X (formerly Twitter) platform, Bloomberg Analyst James Seyffart stated that the asset manager has chosen to maintain only its Bitcoin exposure following this move. Related Reading: Major Milestones Shows XRP Ledger Is Becoming A DeFi Force To Be Reckoned With Many were more concerned about the reason for this decision. To clarify, Seyffart stated that the Asset manager may have made this decision simply because it doesn’t see the “benefit in having a dual BTC and ETH ETF,” especially considering that their Ethereum futures ETF is expected to launch only a few days after the first one launches. Seyffart also believes the firm’s Optimum Roll ETF in ..
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