Several high-profile individuals backed the company ahead of its ICO in 2018.
The project was sued by an elderly couple who had lost money in its initial coin offering (ICO).
It was another busy week for crypto as the space continues to find better footing.
Bitwise notified the securities regulator of its decision, coinciding with a move from NYSE Arca to withdraw its 19b-4 filing.
The financial regulator warns investors against falling for the crypto vehicle that has followed ICOs.
The distinction between commodities and securities is an important one for the crypto sector.