The crypto asset manager, Bitwise, has submitted an application for ETF filings to the Securities and Exchange Commission. The new ETF is expected to track the performance of companies that hold at least 1,000 BTC, according to Cointelegraph. Major companies such as Tesla and MicroStrategy are among the bunch of companies that hold at least 1,000 BTC on their balance sheet. The ETF would provide investors with a way to gain exposure to the cryptocurrency without having to purchase it directly. It is important to note that this is not the first ETF that Bitwise has applied for. The firm also has an application on file for a Bitcoin Strategy ETF. However, that ETF has not yet been approved by the SEC.

#SEC #ETF