WisdomTree revises spot BTC ETF application, in signs that talks with SEC continue
- Asset management company WisdomTree submitted a revision of its spot Bitcoin ETF application on Thursday.
- The filing is part of the application process and signals WisdomTree is in talks with the SEC, Bloomberg analyst James Seyffart said.
- Market participants should expect similar filings from all Bitcoin ETF issuers at some point.
WisdomTree is an asset management firm that manages approximately $94.2 billion in assets and has submitted a revised spot Bitcoin ETF, an S-1 filing, to the US Securities and Exchange Commission (SEC). The firm is lagging behind in the spot Bitcoin ETF race.
Also read: BlackRock’s spot Ethereum ETF filing fails to catalyze ETH price sustained rally
WisdomTree submits revised spot Bitcoin ETF to the SEC
The asset management firm has submitted a revised prospectus (S-1 filing) to the US financial regulator, for its spot Bitcoin ETF. This is an important update as it is part of the process for all issuers of Exchange Traded Products, before they launch their spot Bitcoin ETFs.
James Seyffart, Bloomberg ETF analyst, commented on the development in a recent tweet on X. Seyffart explained that WisdomTree is still planning to launch an ETF, but the firm is behind in the spot Bitcoin ETF race, as other financial firms have already submitted updated applications.
UPDATE: Theres the S-1/Prospectus amendment for @WisdomTreeFunds’s spot #bitcoin ETF pic.twitter.com/RKzWbuKnl1
— James Seyffart (@JSeyff) November 16, 2023
The custodian for WisdomTree’s spot Bitcoin ETF product is Coinbase and the benchmark is the CME CF Bitcoin Reference Rate – New York Variant, according to Bloomberg analyst Henry Jim.
WisdomTree has four key filings with the SEC, as detailed by Jim.
WisdomTree tries spot Bitcoin ETF, again
— ETF Hearsay by Henry Jim (@ETFhearsay) November 17, 2023
WisdomTree Bitcoin Trust
Ticker: BTCW
Fees: TBA
Custodian: Coinbase
Benchmark: CME CF Bitcoin Reference Rate – New York Variant
Exchange: Cboe BZX
Filing (Nov 16, 2023):https://t.co/M2GB4csfMb
Filing (June 20, 2023):… pic.twitter.com/xwlkfFEJlP
Market participants are awaiting the SEC’s decision on Franklin Templeton’s Bitcoin ETF application, which has a deadline of November 17. The regulator delayed the decision on Hashdex and Grayscale’s applications, deferring them to 2024.
Author
Ekta Mourya
FXStreet
Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.
