{"id":567484,"date":"2023-12-30T13:00:56","date_gmt":"2023-12-30T13:00:56","guid":{"rendered":"https:\/\/uniquehot.com\/?p=567484"},"modified":"2024-06-11T07:05:55","modified_gmt":"2024-06-11T07:05:55","slug":"bitcoin-spot-etf-bitwise","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-spot-etf-bitwise\/","title":{"rendered":"Bitcoin Spot ETF: Bitwise Closes Ranks With $200 Million Seed Fund"},"content":{"rendered":"

The competition among the <\/span>Spot Bitcoin ETF<\/span><\/a> issuers is heating up as the period for <\/span>potential approval of these funds<\/span><\/a> draws nearer. Asset manager Bitwise is the issuer currently making waves as it could potentially outrank the <\/span>world\u2019s largest asset manager, BlackRock<\/span><\/a>, in terms of seed funds for their respective ETFs.\u00a0<\/span><\/p>\n

Bitwise\u2019s Bitcoin ETF Could See $200 Million Seed Fund<\/h2>\n

Bitwise\u2019s <\/span>latest amendment<\/span><\/a> to its S-1 filing with the <\/span>Securities and Exchange Commission<\/span><\/a> (SEC) shows that the asset manager has gotten interest from an investor to have its ETF seeded with $200 million upon launch. <\/span>Bloomberg analyst Eric Balchunas<\/span><\/a> highlighted its significance as he <\/span>stated<\/span><\/a> that it \u201cblows away\u201d <\/span>BlackRock\u2019s initial seed fund<\/span><\/a> of $10 million.\u00a0<\/span><\/p>\n

Related Reading: Want To Predict Bitcoin Tops And Bottoms? \u2018The Rainbow Chart\u2019 Is For You<\/a><\/div>\n

The analyst noted that Bitwise actually seeding its ETF with such an amount could be a \u201chuge help\u201d in the early days of the race. It is believed that the SEC <\/span>is likely to approve<\/span><\/a> the pending ETF applications simultaneously. As such, Bitwise being able to create $200 million of shares could give the asset manager an advantage in terms of meeting demands by clients.\u00a0<\/span><\/p>\n

Bitwise had previously shown its intention to lead the way from the get-go following the <\/span>release of its Bitcoin ETF commercial<\/span><\/a>. This move could help the asset manager gain much interest in its Bitcoin ETF even before launch. That way, the public sees it as the first choice upon launching.<\/span><\/p>\n

Notably, Bitwise didn\u2019t mention who the authorized participant (AP) for its ETF would be. The AP would act as the middleman between the ETF investor and issuer, as they are responsible for creating and redeeming the ETF shares. While Bitwise failed to name its AP, other issuers like BlackRock however included it in their <\/span>latest S-1 filing<\/span><\/a> with the SEC.\u00a0<\/span><\/p>\n

\"Bitcoin<\/p>\n

BTC price above $42,000 once again | Source: BTCUSD On Tradingview.com<\/a><\/pre>\n
BTC ETF Issuers Show Their Hands In Latest Wave Of Filings<\/h2>\n
Spot Bitcoin ETF issuers<\/span><\/a> made some notable inclusions in their latest and final amendment to their S-1 filings. These inclusions also give an idea of what strategy these issuers may be looking to adopt in order to lure investors to their funds. In <\/span>Fidelity\u2019s case<\/span><\/a>, the asset manager will be looking to entice investors with its relatively low fees.<\/span><\/p>\n
Related Reading: Here\u2019s The Reason The Solana Price Fell 8% To $98<\/a><\/div>\n
Balchunas <\/span>noted<\/span><\/a> that Fidelity\u2019s \u2018sponsor fee\u2019 of 0.39% happens to be the lowest so far among other issuers that have made theirs known. Interestingly, <\/span>Invesco<\/span><\/a> is adopting a more enticing strategy as they revealed in their <\/span>latest amendment<\/span><\/a> that they will be waiving fees for the first six months and the first $5 billion in assets.\u00a0<\/span><\/p>\n
The Bloomberg analyst <\/span>mentioned<\/span><\/a> that the fee war is going to continue being a thing in the Spot Bitcoin ETF terrain as issuers will be looking to outdo themselves.\u00a0<\/span><\/p>\n
Featured image from Crypto Briefing, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
The competition among the Spot Bitcoin ETF issuers is heating up as the period for potential approval of these funds draws nearer. Asset manager Bitwise is the issuer currently making waves as it could potentially outrank the world\u2019s largest asset manager, BlackRock, in terms of seed funds for their respective ETFs.\u00a0 Bitwise\u2019s Bitcoin ETF Could See $200 Million Seed Fund Bitwise\u2019s latest amendment to its S-1 filing with the Securities and Exchange Commission (SEC) shows that the asset manager has gotten interest from an investor to have its ETF seeded with $200 million upon launch. Bloomberg analyst Eric Balchunas highlighted its significance as he stated that it \u201cblows away\u201d BlackRock\u2019s initial seed fund of $10 million.\u00a0 Related Reading: Want To Predict Bitcoin Tops And Bottoms? \u2018The Rainbow Chart\u2019 Is For You The analyst noted that Bitwise actually seeding its ETF with such an amount could be a \u201chuge help\u201d in the early days of the race. It is believed that the SEC is likely to approve the pending ETF applications simultaneously. As such, Bitwise being able to create $200 million of shares could give the asset manager an advantage in terms of meeting demands by clients.\u00a0 Bitwise had previously shown its intention to lead the way from the get-go following the release of its Bitcoin ETF commercial. This move could help the asset manager gain much interest in its Bitcoin ETF even before launch. That way, the public sees it as the first choice upon launching. Notably, Bitwise didn\u2019t mention who the authorized participant (AP) for its ETF would be. The AP would act as the middleman between the ETF investor and issuer, as they are responsible for creating and redeeming the ETF shares. While Bitwise failed to name its AP, other issuers like BlackRock however included it in their latest S-1 filing with the SEC.\u00a0 BTC price above $42,000 once again | Source: BTCUSD On Tradingview.com BTC ETF Issuers Show Their Hands In Latest Wave Of Filings Spot Bitcoin ETF issuers made some notable inclusions in their latest and final amendment to their S-1 filings. These inclusions also give an idea of what strategy these issuers may be looking to adopt in order to lure investors to their funds. In Fidelity\u2019s case, the asset manager will be looking to entice investors with its relatively low fees. Related Reading: Here\u2019s The Reason The Solana Price Fell 8% To $98 Balchunas noted that Fidelity\u2019s \u2018sponsor fee\u2019 of 0.39% happens to be the lowest so far among other issuers that have made theirs known. Interestingly, Invesco is adopting a more enticing strategy as they revealed in their latest amendment that they will be waiving fees for the first six months and the first $5 billion in assets.\u00a0 The Bloomberg analyst mentioned that the fee war is going to continue being a thing in the Spot Bitcoin ETF terrain as issuers will be looking to outdo themselves.\u00a0 Featured image from Crypto Briefing, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":567488,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,532,656,679,14917,91012,91011,1119,89185,1144,78790,1944,89193,84647],"class_list":["post-567484","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-etf","tag-bitcoin-news","tag-bitcoin-price","tag-bitwise","tag-bitwise-etf","tag-bitwise-news","tag-btc","tag-btc-news","tag-btcusd","tag-btcusdt","tag-etf","tag-etf-news","tag-spot-bitcoin-etf"],"acf":[],"yoast_head":"\nBitcoin Spot ETF: Bitwise Closes Ranks With $200 Million Seed Fund<\/title>\n<meta name=\"description\" content=\"The competition among the Spot Bitcoin ETF issuers is heating up as the period for potential approval of these funds draws nearer.\" 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During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/uniquehot.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Spot ETF: Bitwise Closes Ranks With $200 Million Seed Fund","url":"http:\/\/uniquehot.com\/news\/bitcoin-spot-etf-bitwise\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/bitcoin-spot-etf-bitwise\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/12\/Bitwise-bitcoin-ETF-Small.jpeg?resize=200%2C183","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/12\/Bitwise-bitcoin-ETF-Small.jpeg?fit=320%2C183"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin etf","bitcoin news","bitcoin price","bitwise","bitwise etf","bitwise news","btc","btc news","btcusd","btcusdt","etf","etf news","spot bitcoin etf"],"dateCreated":"2023-12-30T13:00:56Z","datePublished":"2023-12-30T13:00:56Z","dateModified":"2024-06-11T07:05:55Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Spot ETF: Bitwise Closes Ranks With $200 Million Seed Fund\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-spot-etf-bitwise\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-spot-etf-bitwise\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/12\\\/Bitwise-bitcoin-ETF-Small.jpeg?resize=200%2C183\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/12\\\/Bitwise-bitcoin-ETF-Small.jpeg?fit=320%2C183\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin etf\",\"bitcoin news\",\"bitcoin price\",\"bitwise\",\"bitwise etf\",\"bitwise news\",\"btc\",\"btc news\",\"btcusd\",\"btcusdt\",\"etf\",\"etf news\",\"spot bitcoin etf\"],\"dateCreated\":\"2023-12-30T13:00:56Z\",\"datePublished\":\"2023-12-30T13:00:56Z\",\"dateModified\":\"2024-06-11T07:05:55Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/12\/Bitwise-bitcoin-ETF-Small.jpeg?fit=320%2C183","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/567484"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=567484"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/567484\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/567488"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=567484"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=567484"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=567484"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}