After BlackRock submitted an application for a Bitcoin spot ETF to the SEC last week (15), another asset management company, WisdomTree, also submitted an application for a Bitcoin spot ETF again. It seems that it wants to ride on the wave of BlackRock and file with the SEC again. issue a challenge.
(Related reports: Asset management giant BlackRock applied for a Bitcoin spot ETF! Joining forces with Coinbase and Bank of New York Mellon as custodians)
Invesco Galaxy 19b4 dropped https://t.co/CbeKcvuTyw @JSeyff
— Crypto-Keeper (@TakesFromCrypto) June 20, 2023
WisdomTree Submits Bitcoin Spot ETF Application for the Third Time
Bloomberg senior ETF analyst Eric Balchunas said this morning that WisdomTree has once again submitted an application for a Bitcoin spot ETF. WisdomTree submitted applications twice in 2021 and 2022, but both were rejected by the SEC on the grounds that it could not meet investor protection.
According to WisdomTree's application documents this time, its Bitcoin spot ETF "WisdomTree Bitcoin Trust", like BlackRock, was applied in the name of a trust, and the investment goal is to obtain exposure to the price of Bitcoin.
If WisdomTree's application is successfully approved, it is expected to be listed on the Cboe BZX exchange (a subsidiary of the Chicago Board Options Exchange). U.S. Bank will serve as the custodian of Bitcoin, and the CME Group CF Bitcoin US settlement price will be used as the custodian. The ETF's NAV base price.
Invesco also refiles Bitcoin spot ETF filings
In addition to the news from WisdomTree, Eric Balchunas also said that the Bitcoin spot ETF jointly applied by investment management company Invesco and crypto industry services company Galaxy has also resubmitted Form 19b-4, with the goal of making its Invesco Galaxy Bitcoin ETF available for trading on Cboe BZX listed.
Note: According to Investopedia, SEC Form 19b-4 is a form filed with the SEC by a self-regulatory organization (SRO) to notify the SEC of proposed rule changes proposed by the SRO.
And now Invesco has reactivated their 19b-4 for their spot ETF https://t.co/D2zTpqrqJH
— Eric Balchunas (@EricBalchunas) June 20, 2023
This article keeps up with BlackRock! Asset management company WisdomTree once again submitted a Bitcoin spot ETF application. First appeared on Chain News ABMedia.
