"Bitwise Launches $200M Seed Fund for Bitcoin ETF as per Updated S-1 Filing"

Bitwise Asset Management has updated its S-1 filing with the SEC, revealing a $200 million seed investment for its proposed spot Bitcoin ETF, significantly larger than BlackRock's $10 million seed investment for a similar fund. The SEC's decision on the approval of spot Bitcoin ETFs is expected in early January 2024, which could be a pivotal moment for the cryptocurrency market. Bitwise has not named its authorized participant yet, unlike other firms such as Valkyrie Investments. The anticipation of these ETFs is high as they could lead to greater investor participation and market stability. Bitwise is also planning to launch a spot Ethereum ETF soon.