The digital asset fund manager, Bitwise, announced in its press release today the launching of a crypto exchange-traded fund (ETF) in the U.S.
The Bitwise ETF, called ‘Crypto Industry Innovators 30 Index’, would be the first in the history of America to have the word ‘crypto’ attached to it.
According to the May 12 press release, the ETF would be listed on giant exchanges, such as Coinbase, which will offer exposure to interested investors.
Per the launching of Bitwise ETF, it goes in a specific direction, having established it is crypto-related. However, there are several of its kind which focus on companies within the blockchain and mining sector.
Despite the growing interest in the launching of ETFs in the U.S, the SEC is not approving any threading the path of Bitcoin.
ETFs are vehicles for buying and selling all sectors of stocks, bonds, and commodities, trading on an exchange. Its prices fluctuate just as purchasing and selling pressure affect other assets.