Every day, new changes are taking place in the market with regards to crypto currency. Virtual currency ensures that not a day goes by when something remarkable has not taken place in its industry. This also has to do with the phenomenon of further investment in the market. Every day, more and more corporate are deciding to be associated with the virtual currencies and ensure further development in this field. Across the market, there can be noticed an increase in the enthusiasm when it comes to the involvement in this field. The newest development can be noticed in the decision of Bitwise, the famous crypto index fund, has applied for attaining the permission for coming up with an ETF, that is, a fund based on crypto currency and is Exchange traded, that is, an Exchange Traded Fund.

Bitwise has stated that their plan includes association with top ten major crypto currency exchanges in the world. It would capture a giant chunk, which is eighty percent of the capital activities which are taking place. It was a also made clear that several aspects would be taken into consideration before coming up with any decision, that is aspects like liquidity, the volume held by the exchanges as well a custody factor, all these things will be considered before a decision is reached. Moreover, the decision from the SEC, that is, the securities and exchange commission of the US government is also pending in the matter.

It can be noticed that ETFs associated with crypto currencies are becoming very eminent in the virtual currency universe. Moreover, this is not the first when it comes to such a request made to the Securities and Assets Commission. That is, previously, Gemini exchange as well as SolidX, had also requested for similar purpose, but their plea was rejected on the grounds of lack of regulation in the overseas markets and the manipulation that the market of crypto currency is famous for. However, it is yet to be determined if the efforts of Bitwise would be successful in coming out with this venture.

Up until now, there has not been a single instance when such a proposal was accepted by the Securities and Exchange Commission, in the country. And as mentioned in the paragraph above, it has its own reasons for not yielding to the offers of different entities involved in crypto currency activities. However, it can be believed that the stance of SEC might change in the near future due to a number of reasons. The primary reason being that there can be noticed an increase in the interest level in a Bitcoin based ETF, moreover, such an ETF would also ensure that the prospects of crypto currency in the markets are improved.