Crypto asset manager Bitwise has withdrawn its proposal for a Bitcoin & Ethereum ETF from the US Securities and Exchange Commission. The move comes as the company focuses on HYPE, a new token that is gaining interest among Wall Street investors.
Bitwise purchased another 77,097 $HYPE tokens after withdrawing its S-1 registration statement for the proposed ETF. This indicates the company's shift in focus towards more speculative assets like HYPE.