The announcement was an amendment to Bitwise’s filing with the SEC which is still under consideration with the regulator having postponed its verdict on several bitcoin filings in August.
In addition to BNY Mellon appointment, a Delaware trust company has also been assigned as the trustee. A bitcoin custodian is still to be assigned to the trust.
The SEC’s deadline to either approve or reject Bitwise’s filing is 13 October. VanEck and Solid X, who have also filed for a bitcoin ETF, will receive a verdict by 18 October.
VanEck issued shares for a bitcoin ETF-like product earlier this month for institutional investors. This is the company’s bid to grow the adoption of cryptocurrency by institutions while it waits for the first crypto ETF to launch.