Bitwise makes surprise ETH and BTC Market Cap ETF application withdrawal

Bitwise Trust Fund has withdrawn its application for a Bitcoin and Ethereum Market Cap Weight Strategy exchange-traded fund (ETF) from the U.S. Securities and Exchange Commission (SEC).

Per its withdrawal statement, Bitwise said its “Trust no longer intends to seek effectiveness of the Fund and no securities of the Fund were sold or will be sold, pursuant to the above-mentioned Post-Effective Amendment to the Trust’s Registration Statement.”