Another Bitcoin Futures ETF Bites the Dust

A second firm has halted the launch of a bitcoin futures exchange-traded fund, calling the products too costly for many investors.

Bitwise Asset Management late Wednesday withdrew its proposal to roll out a bitcoin ETF this month, the company said in a regulatory filing. Matt Hougan, Bitwise’s chief investment officer, said the fund would have faced a number of fees and added expenses tied to rolling futures contracts from one month to the next, as well as supply problems within the futures market itself.