WisdomTree’s Bitcoin ETF filing joins hopefuls vying for approval

New York-based asset manager WisdomTree has applied to the US Securities and Exchange Commission to establish a tradable bitcoin fund, or ETF.

The company submitted its application on 11 March 2009. March. According to the statement, WisdomTree Bitcoin Trust is traded on the BZX platform of the Chicago Board Options Exchange under the ticker BTCW. The trust will provide investors with regulated access to the bitcoin price and allow speculators to trade through its brokers.

The contracts are calculated based on the Chicago Mercantile Exchange’s CF Bitcoin US Settlement Price, a price index that tracks prices on the major BTC spot markets.

The proposed ETF is not WisdomTree’s first foray into the world of cryptocurrencies, as the company currently manages a leading institutional ETH fund.

In June 2020, WisdomTree filed an ETF that would invest up to 5% of its principal in BTC futures, although the fund is primarily focused on energy, agriculture and metals. In December 2019, the company launched a physically backed bitcoin exchange product listed on the SIX Swiss Exchange.

WisdomTree isn’t the only one to receive approval from the SEC for a bitcoin ETF. Last month, cryptocurrency financial services provider NYDIG filed an application to establish a bitcoin ETF, with US investment bank Morgan Stanley as one of the authorized participants.

Leading exchange-traded product issuer VanEck filed in January for its own BTC fund, in addition to an ETF that tracks the performance of leading cryptocurrency companies. Texas-based Valkyrie Digital Assets also filed for a bitcoin ETF in the same month.

However, VanEck’s ETF filing may be affected by an ongoing lawsuit filed by his former partner, technology company SolidX, which accuses VanEck of plagiarizing a product the two companies worked on together in 2018 and 2019.

is bitcoin safe,how much are bitcoins worth,Privacy settings,How Search works

You May Also Like

eToro’s CEO speculates on what’s driving the crypto bull market

EToro CEO Yoni Assia believes there are several factors at play in…

Russia has imported its largest Bitcoin miner batch

Russia has reportedly imported thousands of cryptocurrencies amid a boom in the…

Major South Korean Bank BNK Busan Plans to Offer Banking Services to Domestic Crypto Exchanges – Finance Bitcoin News

In South Korea, the cryptocurrency craze in the banking sector remains hot…

Big whales aren’t selling BTC, data shows

The bitcoin (BTC) price is consolidating in the $55,000 to $59,000 range,…