The US Securities and Exchange Commission (SEC) has begun considering an application from asset management company WisdomTree to launch an exchange-traded fund (ETF) based on the first cryptocurrency.
WisdomTree Bitcoin Trust’s share price is calculated based on the CME CF Bitcoin Index, which includes bitcoin quotes on major spot trading platforms.
WisdomTree intends to list ETFs based on the first cryptocurrency on the Cboe BZX exchange under the ticker BTCW.
In addition to WisdomTree, VanEck, NYDIG, Bitwise, Valkyrie Digital Assets, Kryptoin, SkyBridge Capital with First Trust Advisors and Fidelity Investments have applied to launch a Bitcoin ETF.
In March, the regulator started considering the application from VanEck.
In February 2021, Canada registered the first Bitcoin ETF in North America. Brazil followed suit.
Recall that in January, SEC Commissioner Hester Pierce announced that the market was ready to launch an ETF based on the first cryptocurrency.
Morgan Creek CEO Mark Yusko expressed his firm belief that the regulator will eventually approve of such tools.
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