Bitwise strengthens its spot Bitcoin ETF application with comprehensive arguments addressing the SEC's concerns.
The CME Group, headquartered in Chicago, boasts a reputation for operating derivatives exchanges, including a market for BTC futures and options.Bitwise’s amended application directly addressed the SEC’s concerns surrounding the academic literature’s mixed or inconclusive stance on the lead-lag relationship between BTC futures and spot markets.
This stance effectively countered several arguments previously put forth by the SEC in disapproval decisions. This requirement becomes imperative if the exchange cannot sufficiently demonstrate alternative measures to prevent fraudulent and manipulative activities. The SEC had, in previous cases, found this condition unmet by other applicants.
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