Friday, 12 April 2024

Crypto News

Bitwise applies for Ethereum ETF; Bitbot presale gathers steam with price expected to rise to $0.0141

Bitwise and VanEck to donate 10% ETF profits following SEC's spot Bitcoin ETFs approval

  • Bitwise applies for Ethereum ETF emphasizing spot trading but omitting staking features.
  • Bitbot presale raises over $1.6 million, BITBOT tokens currently going at $0.0134.
  • Next Bitbot presale stage expects BITBOT price to rise to $0.0141.

Bitwise Asset Management has taken a bold step forward in the cryptocurrency market by applying to an Ethereum Exchange-Traded Fund (ETF), despite facing regulatory challenges.

At the same time, Bitbot, a new Telegram bot, is also making waves as its token presale quickly sells out through its presale stages.

Bitwise’s application for an Ethereum ETF

Bitwise filed its S-1 form with the U.S. SEC for what it is calling the Bitwise Ethereum  ETH ETF with the SEC on Thursday. The application marks a significant milestone in the company’s journey into the cryptocurrency investment space. 

The Ethereum ETF application includes a comprehensive correlation analysis between Ethereum and Bitcoin, highlighting similarities in market dynamics and bolstering the case for Ethereum ETF approval.

Following the approval of its spot Bitcoin ETF, Bitwise aims to replicate its success with Ethereum.

The company’s decision to venture into Ethereum ETFs underscores its confidence in the potential of Ethereum as a viable investment asset.

Unlike some competitors, Bitwise’s proposal focuses solely on the spot trading aspect of Ethereum, omitting mention of staking features present in other ETF filings. This strategic differentiation aims to streamline the approval process and position Bitwise uniquely in the competitive ETF landscape.

Bitbot: empowering crypto trading with innovative features

In parallel with Bitwise’s Ethereum ETF endeavours, Telegram continues to innovate in the cryptocurrency trading sphere with its new trading bot Bitbot.

Bitbot is a non-custodial Telegram trading bot designed to democratize access to advanced trading tools for users of all experience levels.

With features like automated sniping, limit orders, copy trading, and yield optimization, Bitbot provides users with institutional-grade trading capabilities directly from the convenience of Telegram.

Central to Bitbot’s ecosystem is its native token, BITBOT, which serves as a utility coin offering holders various benefits.

BITBOT holders enjoy revenue sharing, exclusive access to presales, unique perks, and governance rights,…

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