WisdomTree has filed with the US Securities and Exchange Commission for a spot Bitcoin ETF.
The company describes the proposed investment vehicle “WisdomTree Bitcoin Trust” as an ETF that will be listed on the Cboe exchange BZX under the symbol BTCW, according to a June 20 filing.
WisdomTree's ETF — or any other spot Bitcoin ETF — will give institutional investors access to the value of Bitcoin without investing directly in the cryptocurrency.
WisdomTree filed a very similar ETF in 2021. CboeBXZ then filed a proposed rule change in January 2022 to support WisdomTree.
The SEC rejected that rule change in October 2022, citing problems with inadequate surveillance-sharing agreements and protections against market manipulation.
WisdomTree's latest filing comes just days after asset management giant BlackRock filed a Bitcoin ETF.
While BlackRock's filing has yet to be approved, some are optimistic about the company's ability to provide a satisfactory surveillance-sharing agreement.
Bitwise has also filed for a Bitcoin ETF for immediate delivery after BlackRock. Some rumors suggest that Fidelity is planning a spot Bitcoin ETF, although those rumors have not been verified.
The SEC has yet to approve any spot Bitcoin ETFs in the United States.
The company describes the proposed investment vehicle “WisdomTree Bitcoin Trust” as an ETF that will be listed on the Cboe exchange BZX under the symbol BTCW, according to a June 20 filing.
WisdomTree's ETF — or any other spot Bitcoin ETF — will give institutional investors access to the value of Bitcoin without investing directly in the cryptocurrency.
WisdomTree filed a very similar ETF in 2021. CboeBXZ then filed a proposed rule change in January 2022 to support WisdomTree.
The SEC rejected that rule change in October 2022, citing problems with inadequate surveillance-sharing agreements and protections against market manipulation.
WisdomTree's latest filing comes just days after asset management giant BlackRock filed a Bitcoin ETF.
While BlackRock's filing has yet to be approved, some are optimistic about the company's ability to provide a satisfactory surveillance-sharing agreement.
Bitwise has also filed for a Bitcoin ETF for immediate delivery after BlackRock. Some rumors suggest that Fidelity is planning a spot Bitcoin ETF, although those rumors have not been verified.
The SEC has yet to approve any spot Bitcoin ETFs in the United States.
