Bitwise withdraws Bitcoin ETF proposal

According to FinanceMagnates, Bitwise requested a withdrawal of its Bitcoin ETF proposal, according to a document from the United States Securities and Exchange Commission (SEC). It is reported that the proposal was initially submitted to the Committee on January 10, 2019. Last October, Bitwise filed an appeal after the SEC rejected its ETF proposal. Although the SEC said in November that it would review its proposal again, the Bitwise withdrawal proposal seems to indicate that it still cannot meet the requirements of regulators.