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SEC Begins Consideration of WisdomTree Application to Launch Bitcoin ETF


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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Fidenge Pecold

My profession is a journalist, but my hobby for 8 years has been studying Forex investing and trading. During this time, I managed to gain extensive experience in investing and trading cryptocurrencies and double my capital in the Forex market. To be the author of this magazine, the site owners invited me to participate in one of the 2020 trading webinars, and I will try to reveal the most relevant crypto market news for you.

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