{"id":200309,"date":"2021-03-12T08:45:57","date_gmt":"2021-03-12T05:45:57","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/wisdomtrees-bitcoin-etf-filing-joins-hopefuls-vying-for-approval\/"},"modified":"2021-03-12T08:45:57","modified_gmt":"2021-03-12T05:45:57","slug":"wisdomtrees-bitcoin-etf-filing-joins-hopefuls-vying-for-approval","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/wisdomtrees-bitcoin-etf-filing-joins-hopefuls-vying-for-approval\/","title":{"rendered":"# WisdomTree’s Bitcoin ETF filing joins hopefuls vying for approval"},"content":{"rendered":"

“# WisdomTree’s Bitcoin ETF filing joins hopefuls vying for app<\/a>roval <\/strong>”
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New York-based asset manager WisdomTree has filed for a Bitcoin exchange-traded fund, or ETF, with the U.S. Securities and Exchange Commission.<\/p>\n

The firm submitted its filing<\/a> on March 11. It states the WisdomTree Bitcoin Trust would trade on Chicago Board Options Exchange\u2019s BZX platform under the ticker BTCW. The trust would offer a regulated way for investors to gain exposure to the price of Bitcoin, and allow speculators to execute trades through their brokers.<\/p>\n

Contracts would be settled according to Chicago Mercantile Exchange\u2019s \u201cCF Bitcoin US Settlement Price,\u201d a price index that tracks the price based on major BTC spot exchanges.<\/p>\n

The proposed ETF is not WisdomTree\u2019s first foray into crypto, with the firm currently managing a leading institutional ETH fund.<\/p>\n

In June 2020, WisdomTree filed for an ETF that would invest up to 5% of capital into BTC futures contracts, despite the fund being primarily focused on energy, agriculture, and metals. In December 2019, the firm launched a physically-backed Bitcoin exchange-traded product that was listed on the SIX Swiss Exchange.<\/p>\n

WisdomTree is not alone in seeking SEC approval for a Bitcoin ETF. Last month, crypto-focused financial services firm NYDIG filed for a Bitcoin ETF, with top U.S. investment bank Morgan Stanley among the proposed fund\u2019s authorized participants <\/p>\n

Leading exchange-traded product-issuer VanEck filed for its own BTC fund in January, in addition to an ETF tracking the performance of leading crypto firms. Texas-based Valkyrie Digital Assets also filed for a Bitcoin ETF that same month.<\/p>\n

However, VanEck\u2019s bid for ETF approval may be impacted by an ongoing lawsuit from its former partner, blockchain tech firm SolidX \u2014 with the company accusing VanEck of plagiarizing a product the two firms worked on together during 2018 and 2019.<\/p>\n