Another investment firm is tapping the brakes on a futures-backed Bitcoin exchange-traded fund as expensive roll costs loom large.
Bitwise Asset Management is dropping its application to list a Bitcoin futures ETF, while keeping its filing for a physically backed fund, Chief Investment Officer Matt Hougan tweeted Wednesday. That follows a similar move by Invesco Ltd., which announced it wouldn’t pursue its futures-based ETF just hours before the first one launched last month.
