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Asset manager Bitwise pulls plan for a bitcoin ETF
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fnlondon.comA second firm has halted the launch of a bitcoin futures exchange-traded fund, calling the products too costly for many investors.
Bitwise Asset Management late on 10 November withdrew its proposal to roll out a bitcoin ETF this month, the company said in a regulatory filing. Matt Hougan, Bitwise’s chief investment officer, said the fund would have faced a number of fees and added expenses tied to rolling futures contracts from one month to the next, as well as supply problems within the futures market itself.
“These...
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