WisdomTree and Invesco have filed applications for spot Bitcoin exchange-traded funds (ETFs) in the US, following BlackRock's move on June 15.
WisdomTree and Invesco Have Filed for Spot Bitcoin Exchange-Traded Funds in the US
WisdomTree and Invesco have filed applications for spot Bitcoin exchange-traded funds (ETFs) in the US, following BlackRock's move on June 15.
New York-based asset management firm WisdomTree has applied for a third time, requesting that the SEC allows WisdomTree to list its “WisdomTree Bitcoin Trust” on the Cboe BZX Exchange under the ticker “BTCW.” The SEC previously rejected its application in December 2021, and again in October 2022, claiming concerns of fraud and market manipulation.
Meanwhile, Invesco has "reactivated" its application for its “Invesco Galaxy Bitcoin ETF.” According to the filing, the spot Bitcoin ETF will make use of "professional custodians and other service providers."
One crucial distinction in the BlackRock filing is that it intends to enter into a “surveillance sharing agreement” with the Chicago Mercantile Exchange futures markets. Similarly, WisdomTree signaled it is open to signing a surveillance agreement with "an operator of a US-based spot trading platform for Bitcoin." Fidelity Investments is also rumored to be considering its own spot Bitcoin ETF.
