WisdomTree has submitted a submitting by which it intends to realize approval from the U.S. Securities and Alternate Fee for a spot Bitcoin exchange-traded fund (ETF).
WisdomTree describes its proposed funding automobile, named WisdomTree Bitcoin Belief, as an ETF that will be listed on the Cboe BZX change beneath the ticker label BTCW, in keeping with the June 20 submitting.
WisdomTree’s ETF — or some other Bitcoin spot ETF — would enable institutional buyers to realize publicity to the worth of Bitcoin with out investing within the cryptocurrency straight.
Prior utility
WisdomTree submitted a really related ETF utility in 2021. CboeBXZ later filed a proposed rule change in January 2022 in help of WisdomTree.
The SEC rejected that rule change in October 2022, because it took concern 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 is just not but accredited, some are optimistic in regards to the firm’s skill to offer a passable surveillance-sharing settlement and the corporate’s previous file 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 accredited any Bitcoin spot ETF within the U.S.
The submit WisdomTree submits new submitting for spot Bitcoin ETF appeared first on CryptoSlate.
