WisdomTree has submitted an software geared toward in search of approval from the U.S. Securities and Change Fee for a spot Bitcoin exchange-traded fund (ETF).

WisdomTree has recognized its proposed funding car, dubbed WisdomTree Bitcoin Belief, as an ETF listed on the Cboe BZX alternate below the ticker label BTCW, in accordance with a June 20 submitting. Explaining.

The WisdomTree ETF and different Bitcoin Spot ETFs will permit institutional traders to faucet into the worth of Bitcoin with out investing straight within the cryptocurrency.

Pre-application

WisdomTree has filed a really comparable ETF software in 2021. CboeBXZ then submitted a proposed rule change in January 2022 to assist the Knowledge Tree.

The SEC rejected the rule change in October 2022, citing inadequate surveillance sharing agreements and insufficient protections towards market manipulation.

Filed after BlackRock

WisdomTree’s newest submitting comes simply days after wealth administration large BlackRock filed an ETF software.

BlackRock’s software has but to be accepted, however there may be optimism concerning the firm’s capacity to ship passable surveillance-sharing contracts, in addition to its monitor document of ETF approvals.

Bitwise additionally utilized for a Bitcoin spot ETF following BlackRock. Some rumors counsel that Constancy is planning a Bitcoin Spot ETF, however these rumors are unconfirmed.

SEC Has Not Authorized Bitcoin Spot ETFs In The US But

An article about WisdomTree submitting a brand new software for a spot Bitcoin ETF first appeared on currencyjournals.

(Tag Translation) Bitcoin