On October 10th, Bitwise officially issued seven tweets to respond to the US SEC's rejection of its Bitcoin ETF proposal. Bitwise said that although "rejection" does not seem to be positive, it is a positive step towards a regulated encrypted ETP. In fact, we could have withdrawn the application to avoid being rejected, but we didn't do it because it was fruitful. When talking about how Bitwise will do in the future, Bitwise said: "The journey continues. We are committed to continuing to work with the US SEC to provide data and analysis on the industry and its progress. Today's 112-page report shows key areas of focus We will apply again at the appropriate time."