WisdomTree has submitted a submitting by way of which it intends to realize approval from the U.S. Securities and Change Fee for a spot Bitcoin exchange-traded fund (ETF).
WisdomTree describes its proposed funding automobile, named WisdomTree Bitcoin Belief, as an ETF that might be listed on the Cboe BZX trade below the ticker label BTCW, in accordance with the June 20 submitting.
WisdomTree’s ETF — or another Bitcoin spot ETF — would enable institutional traders to realize publicity to the worth of Bitcoin with out investing within the cryptocurrency immediately.
Prior utility
WisdomTree submitted a really comparable ETF utility in 2021. CboeBXZ later filed a proposed rule change in January 2022 in assist of WisdomTree.
The SEC rejected that rule change in October 2022, because it took situation with inadequate surveillance-sharing agreements and protections in opposition to market manipulation.
Submitting follows BlackRock
WisdomTree’s newest submitting comes simply days after asset administration big BlackRock submitted its ETF utility.
Although BlackRock’s utility will not be but authorized, some are optimistic in regards to the firm’s capacity to offer a passable surveillance-sharing settlement and the corporate’s previous report of ETF approvals.
Bitwise additionally utilized for a Bitcoin spot ETF after BlackRock. Some rumors counsel that Constancy is planning a Bitcoin spot ETF, although these rumors are unverified.
The SEC has not but authorized any Bitcoin spot ETF within the U.S.
The publish WisdomTree submits new submitting for spot Bitcoin ETF appeared first on CryptoSlate.