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The Bitwise Bitcoin ETF (Exchange-Traded Fund) is a financial product that aims to track the price of Bitcoin. Bitwise Asset Management, the company behind the ETF, has been advocating for a Bitcoin ETF to make it easier for investors to gain exposure to the cryptocurrency market without directly purchasing Bitcoin. The ETF is designed to simplify investing in Bitcoin by offering a more traditional method of trading on stock exchanges. It is considered a significant development in cryptocurrency's integration into mainstream finance.