BLACKROCK, THEN BITWISE — HOW THE SPOT BITCOIN ETF FILINGS DIFFER

Summary from the TLDR Crypto newsletter

Bitwise has revived its proposal for a spot Bitcoin ETF following a similar move by BlackRock and rumors of Fidelity pursuing one as well, even though the SEC has never approved such an offering. The Bitwise filing, like BlackRock's, emphasizes surveillance of Bitcoin via the CME futures markets. Analysts suggest Bitwise's move is a direct response to BlackRock's bid, and both filings cite the SEC's approval of a Bitcoin futures fund by Teucrium as a precedent. The outcome of Grayscale Investments' lawsuit against the SEC could further influence the prospects for approval of a spot Bitcoin ETF.