Whilst the world waited for the SEC’s postponed decisions on two outstanding Bitcoin-ETF applications, somebody filed a new one. The United States Commodity Index Fund Trust filed the application yesterday for a fund based on a portfolio of both bitcoin and ether.
Like The SEC Don’t Already Have Enough To Do
It’s hardly as if the Securities and Exchange Commission (SEC) are breaking any speed records deciding on pure Bitcoin-based ETFs. Now they also have to consider the implications of ether.
The USCF Crescent Crypto Index Fund (ticker symbol ‘XBET’) will track the Crescent Crypto Core II Index (CCINDX). This measures the performance of a market cap weighted portfolio of bitcoin and ether, the two “largest and most liquid cryptocurrencies.”
United States Commodity Funds LLC (USCF) will invest the XBET fund’s assets into the two cryptocurrencies.
Postponed Bitwise and VanEck Decisions Due
Hopefully, the new filing will not further delay the imminent decisions on applications from Bitwise Asset Management, and…