{"id":538986,"date":"2023-06-21T16:00:20","date_gmt":"2023-06-21T16:00:20","guid":{"rendered":"https:\/\/ktsl888.com\/?p=538986"},"modified":"2024-06-11T08:18:18","modified_gmt":"2024-06-11T08:18:18","slug":"wisdomtree-investments-joins-blackrock-files-for-bitcoin-etf","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/wisdomtree-investments-joins-blackrock-files-for-bitcoin-etf\/","title":{"rendered":"WisdomTree Investments Joins Blackrock, Files For Bitcoin ETF"},"content":{"rendered":"
Several United States asset managers have sought the US Securities and Exchange Commission\u2019s (SEC) blessing to start a spot Bitcoin exchange-traded fund (ETF). <\/span>However, companies like WisdomTree, Grayscale, and One River Asset Management only received the SEC\u2019s rejection.<\/span><\/p>\n However, the SEC’s denial didn’t deter WisdomTree as a June 21 Bloomberg <\/span>report<\/span><\/a> revealed that the asset manager filed another application with the SEC to launch its spot BTC ETF. <\/span>The firm\u2019s application comes a few days after BlackRock submitted its own, seeking approval for the same product.<\/span><\/p>\n WisdomTree Investments had previously proposed to launch a spot BTC ETF with the SEC in 2021.\u00a0<\/span>However, the commission denied the company’s application in December 2021 after a prolonged delay in taking action.\u00a0<\/span><\/p>\n Related Reading: Shiba Inu Breaks Through Crucial Resistance Point With 10% Climb<\/a><\/p>\n After the denial, WisdomTree, alongside <\/span>One River<\/span><\/a>, made changes to its proposal and resubmitted it to the SEC. <\/span>However, in March 2022, the commission <\/span>announced<\/span><\/a> designating a longer period to decide on the proposed rule change.<\/span><\/p>\n It noted that it needed ample time to consider the proposed change, including the accompanying comments. <\/span>One would have expected WisdomTree to surrender after the prolonged delay and denial, but the latest development suggests otherwise.\u00a0<\/span><\/p>\n The Tuesday filing disclosed that the asset manager’s Bitcoin Trust would list on the Cboe BZX Exchange under the name BTCW if approved. <\/span><\/p>\n The SEC has previously refused to allow such Bitcoin-based investment products, rejecting or ignoring applications from firms such as Grayscale, One River, and VanEck.\u00a0<\/span><\/p>\n It cited fraud and BTC spot market manipulation as reasons for not approving the spot-based BTC ETFs. Instead, the SEC allowed futures-based BTC ETFs. <\/span><\/p>\n Notably, the manager of the largest Bitcoin Trust fund, Grayscale, had applied with the SEC to convert its private spot Bitcoin trust to spot ETF.\u00a0<\/span>But the commission rejected the move, enraging the firm to <\/span>sue<\/span><\/a> it for denying the application.<\/span><\/p>\nWisdomTree Reapplies For Spot BTC ETF Approval Despite Previous Rejections<\/h2>\n