WisdomTree Seeks Approval for a US Bitcoin ETF

WisdomTree has become the latest company to seek approval from the Securities and Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term Commission (SEC) for the launch of a much-awaited Bitcoin exchange-traded fund (ETF) in the United States.

The S-1 Form filed on Thursday with the regulator revealed WisdomTree’s intentions to list the shares of the Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term ETF on Cboe’s bZx exchange under the ticker symbol BTCW.

The application was made by WisdomTree Bitcoin Trust, a Delaware Trust Company, which will act as the trustee of the fund, but it is yet to name a third-party custodian for the digital currencies.

Bitcoin ETF in 2021?

WisdomTree has joined three other companies: NYDIG, Valkyrie, and VanEck, whose applications to launch Bitcoin ETFs are already with the financial market regulator. However, only VanEck filed a Form 19b-4 that started the regulatory review process.

The launch of a Bitcoin ETF was pushed by many companies for years. However, the market watchdog is reluctant to grant approval, citing risks. Though, it continues to accept applications.

WisdomTree earlier applied to the SEC for the approval of a commodity fund that will have 5 percent exposure to Bitcoin, which was deemed by many as a cautious approach to listing a Bitcoin fund.

Demand for Bitcoin skyrocketed over the years among both retail and institutional investors. The launch of an ETF is considered to be mainstreaming Bitcoin investments more as it will end the technical barrier for investing in the digital currency.

While the US is cautious, its neighbor Canada recently approved and listed its first Bitcoin ETF, which has become a massive hit among the investors.