WisdomTree again looking to secure regulatory approval for its Bitcoin spot ETF
Following two times rejection over the last two years, WisdomTree again submitted its Bitcoin spot ETF application with the American securities regulatory body.
Spot ETF is basically an investment vehicle, which allows people to trade that asset without direct buy/sell on behalf of the real-time price of the asset. Over the past couple of years, several fund managers tried to secure regulatory approval for their Bitcoin spot ETFs in America but failed.
Yesterday we reported that Balckrock submitted its Bitcoin spot ETF application with the United States Securities Exchange Commission (SEC) to get approval.
Many experts claimed that BlackRock will score regulatory approval for its Bitcoin spot ETF product but few people claimed that nothing changed so far & the SEC body has the same reasons to reject the Bitcoin spot ETF applications.
In the present time the majority of the fund managers are intending to bring their bitcoin spot ETFs products & they are seeking regulatory approval from the SEC body.
In the latest, NewYork headquartered asset manager WisdomTree also submitted its application with the US SEC. Filing noted that the asset manager requested the SEC body to give green signal for its Bitcoin spot ETF product to allow the company to list its “WisdomTree Bitcoin Trust” on the Cboe BZX Exchange under the ticker “BTCW.”
Earlier this, WisdomTree filed for Bitcoin spot ETF product regulatory approval two times but faced rejection in Dec 2021 & again in Oct 2022.
Following this news, the crypto investors are bullish on Bitcoin. The current trade price of Bitcoin is $30k+ & this trade price is 5.75% high over the last 24 hours trade price.
No doubt that people are considering Bitcoin spot ETF applications as a positive sign for Bitcoin’s future but there are some Bitcoin propenents who believes that investment in Bitcoin via spot ETF products will ruin the basic vision of Bitcoin.
Read also: Popular Bitcoin proponent says Ripple can’t win in XRP lawsuit
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