Crypto Asset Manager Bitwise downloaded documents to launch a negotiated stock market (ETF) fund linked to the Dogecoin price (DOGE), a file with the United States. The securities and exchange committee is shown on Tuesday.
The file, an S-1 document, is a requirement for companies that seek to issue a new guarantee and be listed on a public scholarship.
Earlier this month, Rex investment managers and OSPRESS funds filed documents for several ETF Crypto, including Dogecoin, among other people.
However, the Bitwise deposit differs in that it is filed under the law of 33 by opposition to law 40, which Rex and Osprey have filed, said the analyst of Bloomberg Intelligence ETF, Eric Balchunas.
S-1s filed under the law ’33 are generally used for niche FNBs, based on raw materials, while the deposit of law 40 offers stronger protection of investors because it obliges the issuer to be respected other dry rules. Law 40, for example, limits the lever effect and the uncovered sale and requires, among other things, more, strict fiduciary surveillance and governance.
Bitwise is the transmitter of several ETF Crypto and has several pending applications, including one for an ETF XRP (XRP).
Although S-1 documents are a first step to launch an ETF, the more crucial deposit is 19B-4, which is necessary to report a change of rule required on the stock market seeking to list the investment and to link the dry to a strict strict on the deadline.
While the ETF same was an almost unthinkable investment vehicle under the dry of Gray Gensler, which gave emitters to launch a Bitcoin Etf spot, the possibility of such funds now seems more likely than never after the inauguration of the inauguration of the inauguration of the inauguration of the inauguration of President Donald Trump.
Not only has promised friendly policies, but after the launch of his own same, Trump and Melania, it has become clear that the president himself is a fan of the same.
