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 <p class="is-style-lead">In a Sept. 22 post on X, Bloomberg Intelligence analyst James Seyffart reported Bitwise, the <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> index fund manager, has <a rel="noopener noreferrer nofollow" title="withdraw" href="https://thebittimes.com/tag/withdraw.html">withdraw</a>n their application to convert $BITC from a Bitcoin <a rel="noopener noreferrer nofollow" title="futures" href="https://thebittimes.com/tag/futures.html">futures</a> fund to a Bitcoin and Ethereum <a rel="noopener noreferrer nofollow" title="futures" href="https://thebittimes.com/tag/futures.html">futures</a> fund.</p> 
 <p>This means the fund will remain as just Bitcoin exposure.</p> 
 <h2 class="wp-block-heading" id="reason-unknown">Reason unknown</h2> 
 <p>Seyffart shared a letter from Bitwise’s General Counsel Katherine Dowling to the Division of Investment Management at the U.S. Securities and Exchange Commission (SEC) that said the trust is no longer seeking to change the strategy by the <a rel="noopener noreferrer nofollow" title="amendment" href="https://thebittimes.com/tag/amendment.html">amendment</a>. However, the letter did not provide much detail beyond its Aug. 10 submission.</p> 
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    <p lang="en" dir="ltr">NEW: @BitwiseInvest has withdrawn their application to convert $BITC from a #Bitcoin futures fund to a Bitcoin &amp; Ethereum futures Fund. It will remain just Bitcoin exposure. pic.twitter.com/ubQ6qT15vy</p>— James Seyffart (@JSeyff) September 22, 2023 
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 <p>The&nbsp;analyst added&nbsp;that this news is not something to read into just yet; however, if Valkyrie were to also withdraw, it might mean there is more happening than meets the eye.&nbsp;</p> 
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  <svg class="cn-block-related-link__icon icon" aria-hidden="true"> <use xlink:href="#"></use> 
  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> Bitwise withdraws Bitcoin and Ethereum ETF application 
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 <p>At the same time, the SEC’s decision on other spot Bitcoin ETF applications has been delayed as of Aug. 31, with the regulator deciding it needed a longer period of time to review submissions from WisdomTree, VanEck, Invesco Galaxy, Wise Origin Bitcoin Trust (by Fidelity) and BlackRock.</p> 
 <h2 class="wp-block-heading" id="awaiting-further-information">Awaiting further information</h2> 
 <p>With the next deadline approaching, many in the crypto community are keeping a close eye on news about crypto ETFs.</p> 
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   <noscript> <iframe title="What Court Ruling on Spot Bitcoin ETF Means for Crypto" width="1020" height="574" src="https://www.youtube.com/embed/oKW0Fi30CM4?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe> 
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 <p>For this reason, it was also newsworthy when&nbsp;Gary Gensler, the chairman of the SEC, avoided a direct answer to spot ETF approvals for <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> in front of the U.S. Senate Banking Committee during a Sept. 12 hearing.</p> 
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  <svg class="cn-block-related-link__icon icon" aria-hidden="true"> <use xlink:href="#"></use> 
  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> SEC gives official acknowledgment to Bitwise’s resubmitted spot bitcoin ETF application 
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bitwise-withdraws-crypto-futures-etf-amendment-tbt63737.html">https://thebittimes.com/bitwise-withdraws-crypto-futures-etf-amendment-tbt63737.html</a></p>

Bitwise withdraws crypto futures ETF amendment

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