Bitcoin ETF

Bitcoin

James

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<p>WisdomTree has <a href="https://twitter.com/JSeyff/status/1725225523574382821" rel="noopener noreferrer nofollow">filed</a> an amendment for its Bitcoin exchange-traded fund (ETF) application.&nbsp;</p>
<p>This amendment is a routine but essential step in the multi-stage process of ETF approval, according to a prominent ETF expert James Seyffart.&nbsp;</p>
<p>This means that Wisdom Tree is actively engaging in discussions with the SEC’s Corporate Finance DivisionWisdomTree is not alone in its pursuit of a Bitcoin ETF.&nbsp;</p>
<h2 id="other-updates-proposals">Other updates proposals&nbsp;</h2>
<p>As of recently, similar amendments have been <a href="https://u.today/bitcoin-etf-hype-reemerges-as-global-x-amends-filing" rel="noopener noreferrer nofollow">submitted</a> by other major players in the industry.&nbsp;</p>
<p>Bitwise, for instance, resubmitted its amended proposal in response to feedback and queries. Following suit, GlobalXETFs and Fidelity filed their amended Bitcoin ETF prospectuses, with <a href="https://u.today/bitcoin-etf-race-blackrock-debuts-new-filing" rel="noopener noreferrer nofollow">BlackRock</a> debuting a new filing shortly after.&nbsp;</p>
<p>A "spot" Bitcoin ETF, which is based on the current ("spot") price of Bitcoin, is especially appealing. It would track the actual price of Bitcoin directly, rather than being based on futures contracts, as some other proposed Bitcoin ETFs are. This direct tracking makes a spot Bitcoin ETF more appealing to those who want a purer form of Bitcoin exposure. This is why investment giants of the likes of BlackRock are actively pursuing such a product. &nbsp;</p>
<h2 id="sec-s-approval-delay">SEC's approval delay &nbsp; &nbsp;</h2>
<p>The path to ETF approval, however, is fraught with delays and regulatory hurdles. As <a href="https://u.today/bitcoin-btc-price-suddenly-surges-above-37000-despite-sec-delaying-spot-etf-decision" rel="noopener noreferrer nofollow">reported by U.Today</a>, the recently postponed decisions on several <a href="https://u.today/bitcoin-etf-hype-reemerges-as-global-x-amends-filing" rel="noopener noreferrer nofollow">Bitcoin ETF</a> applications, including those from Hashdex, Franklin, and GlobalX. These delays are not unusual in the rigorous approval process for such financial products.&nbsp;</p>
<p>Despite these setbacks, analysts like Seyffart remain optimistic about the future of these ETFs. Seyffart predicts a "pretty good chance" of approval with 90% odds by January 10, 2024.&nbsp;</p>

Amended Bitcoin ETF Proposal Filed by WinsdomTree

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