WisdomTree Amends Spot Bitcoin ETF Filing
The $97 billion asset manager is still in the ETF race and is currently in talks with the SEC.
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Asset manager WisdomTree has submitted an amended Form S-1 prospectus for a spot bitcoin exchange-traded fund (ETF) to the Securities and Exchange Commission (SEC).
The proposed WisdomTree Bitcoin Trust would trade on the CBOE BZX Exchange under the ticker BTCW. Coinbase Custody Trust is slated to serve as the custodian, holding the trust’s bitcoin.
— James Seyffart (@JSeyff) November 16, 2023
The filing amendment shows WisdomTree remains committed to launching a Bitcoin ETF in the US, despite ongoing discussions with the SEC. The firm is one of 12 total applicants seeking approval for a Bitcoin ETF.
“All issuers were expected to have to file one of these to potentially launch their ETF at some point. Just a step in the process,” said Bloomberg ETF analyst James Seyffart.
A few months ago, the SEC delayed decisions on proposed bitcoin ETFs from WisdomTree, VanEck, and Fidelity Investments. The regulator asked all applicants to provide updated details, which prompted WisdomTree and 10 others to amend their filings. Franklin Templeton and Global X are the only two that have yet to amend their filings.
Earlier this year, the $97 billion asset manager launched a mobile app called WisdomTree Prime, which allows trading of crypto assets like bitcoin and ether. The app also enables tokenized trading of physical assets such as gold on the Stellar decentralized exchange.