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Bitcoin (BTC) price rises above $8 200 amid prospects of ETF approval, Bitwise Asset Management files for first Cryptocurrency Index ETF

Bitcoin (BTC), the largest cryptocurrency, has jumped 40% since the start of July and 13% so far this week as speculation mounts that a Bitcoin ETF could be approved by the U.S. Securities and Exchange Commission (SEC) as early as August.

According to CoinMarketCap, BTC is trading at $8 213,49 (0,99% in a 24-hour period) at press time. Total market capitalization is $298 138 038 543.

On July 24, Bitwise Asset Management, a cryptocurrency asset management firm founded in 2017, announced the filing of the registration statement for a new fund, the first publicly-offered cryptocurrency index exchange-traded fund (ETF).

The new ETF will be called the Bitwise HOLD 10 Cryptocurrency Index Fund.  It aims to track the returns of Bitwise’s HOLD 10 Index, a market-cap-weighted index of the 10 largest cryptocurrencies, rebalanced monthly.

A registration statement relating to the shares of the Bitwise HOLD 10 Cryptocurrency Index Fund ETF has been filed with the Securities and Exchange Commission (SEC) but has not yet been declared effective.