#加密货币ETF发展 Time flies, and unknowingly, the cryptocurrency ETF has already gone through more than ten years of development. Reflecting on 2013, when the Winklevoss brothers first submitted their Bitcoin ETF application, although it was ultimately rejected by the SEC, it was a pioneering step. Over the years, I have witnessed countless cycles of applications being rejected, revised, and resubmitted, but market enthusiasm has never waned. Now seeing Bitwise update their Avalanche ETF application, I can't help but feel a lot. They not only reduced the fee rate to an extremely competitive level of 0.34%, but also added staking features, which is a groundbreaking move in the US ETF market. This reminds me of the launch of Bitcoin futures in 2017, which was also a milestone breakthrough. However, history tells us that regulatory agencies often need time to adapt to innovation. I believe that although this application has a bright outlook, patience is still required. After all, in this field, change always happens gradually.