According to the SEC website, Bitwise updated its Bitcoin spot ETF-S1 document, with ETF fees set at 0.24%. The first 6 months waive all sponsor fees for the first $1 billion in trust assets, making it the lowest known fee.

Bitwise Asset Management has launched an ad campaign featuring actor Jonathan Goldsmith, known for his portrayal of "The Most Interesting Man in the World," to endorse their Bitcoin exchange-traded funds (ETFs). The campaign coincides with Bitwise's pending Bitcoin ETF application with the US Securities and Exchange Commission (SEC), which is expected to be approved in early January 2024. Other asset managers, including ARK Invest, 21Shares, BlackRock, and WisdomTree, have also made updates to their Bitcoin ETF applications and adopted the SEC's "cash create" redemption mechanism. Bitcoin's price has surged by 5.5% in the last 24 hours, contributing over $50 billion to its market capitalization.

BlackRock and Bitwise have submitted amended S1 forms to the SEC, indicating that they are working to address any concerns raised by the regulator. It is not clear what specific information was requested by the SEC, but analysts had predicted changes following recent meetings. BlackRock's updated filing included 21 notable amendments, covering topics such as security, risks, disclosures, and the structure of the Trust. The SEC is expected to make a decision on approving spot bitcoin ETFs by Jan 10th, with a 90% chance of approval according to Bloomberg analysts.

Bitwise Asset Management stated on November 9th that it has no relationship with the now dissolved Bitwise Industries, and has never had any relationship with them. Bitwise Industries was a former technology company located in Fresno, California. Bitwise Asset Management, Inc., headquartered in San Francisco, is the largest cryptocurrency index fund management company in the United States. Bitwise Industries was a bankrupt technology company that appears to have had no involvement with cryptocurrency in any way. Two US institutions have charged the founder of Bitwise Industries today. The US Securities and Exchange Commission (SEC) stated that founders Irma Olguin, Jr. and Jake Soberal raised $70 million by falsifying company financial information. At the same time, the US Department of Justice (DOJ) stated that the founders conspired to commit wire fraud and fraudulently obtained $100 million before the company went bankrupt. These two individuals have not yet been convicted, but each faces up to 20 years in prison and fines or penalties from each institution.

Bitwise Industries co-founders Irma Olguin Jr. and Jake Soberal have been arrested for allegedly executing a fraudulent scheme that swindled investors out of $100 million. They are accused of fabricating bank statements and providing false financial information to investors and their own board. The charges come after Bitwise furloughed 900 employees, causing disruption to its operations and putting the future of the company's commitments to various U.S. cities in doubt. Despite the scandal, Bitwise has amended its application for a Bitcoin ETF to offer investors regulated exposure to Ethereum and Bitcoin futures.

According to Bitwise CEO Matt Hougan, a spot Bitcoin ETF could attract $5 billion in the first year and up to $50 billion in the first five years. Hougan believes that a spot BTC ETF will increase demand for Bitcoin, but the impact on the value of Bitcoin is unclear. However, he sees the combination of net new demand and decreasing supply due to the halving as an exciting opportunity for investors.

On October 26th, Bloomberg ETF analyst James Seyffart stated on social media that cryptocurrency asset management company Bitwise has submitted a modified version of its spot Bitcoin ETF to the U.S. Securities and Exchange Commission (SEC), "just a response to Bitwise's comments and concerns about the SEC," and if Bitwise's product is approved by the SEC, it will be traded under the ticker symbol BITB.

Bloomberg analyst James Seyffart stated on X platform that Bitwise has updated its Bitcoin ETF filing with the SEC, in response to comments and concerns raised by the SEC, which is in line with market expectations. If Bitwise's product is approved by the SEC, it will trade under the code BITB. Seyffart stated that he did not see anything different from other filings in this version, but rather that more progress has been made, representing ongoing dialogue between the SEC and these applicant companies.

Bitwise Chief Investment Officer Matt Hougan said in a podcast that with the participation of large institutions such as BlackRock and Invesco, people's doubts and fears about the cryptocurrency industry are beginning to change. "In two or three years, there will be no more congressional hearings (questioning cryptocurrencies). People will only talk about how much this has improved market efficiency."

Bitwise Chief Investment Officer Matt Hougan said in an interview that "the spot Bitcoin ETF application is about to be approved." He mentioned Grayscale's recent victory in SEC litigation and BlackRock's successful ETF application rate, "the company has almost a perfect record in launching ETFs." Hougan also said that the demand for spot cryptocurrency ETFs is expected to be 100 times that of futures ETFs, which will have a greater impact on the market.