Bitcoin ETF

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Following in the footprints of its counterparts, New York-headquartered asset manager WisdomTree has <a href="https://u.today/amended-bitcoin-etf-proposal-filed-by-winsdomtree" rel="noopener noreferrer nofollow">filed an amendment</a> of its spot Bitcoin Exchange Traded Fund (ETF) to the U.S. Securities and Exchange Commission (SEC). This marks a significant move for the Jonathan Steinberg-led ETF provider in its race for a spot Bitcoin ETF approval.&nbsp;
It indicates that WisdomTree is in close communication with the regulator, particularly, its Corporate Finance Division.&nbsp;
<h2 id="b-wisdomtree-s-spot-btc-application-under-review-b">WisdomTree’s Spot BTC Application Under Review&nbsp;</h2>
According to the official website of the SEC, <a href="https://www.sec.gov/about/divisions-offices/division-corporation-finance/contact-us#:~:text=The%20Division%20selectively%20reviews%20company,reporting%20under%20the%20Exchange%20Act." rel="noopener noreferrer nofollow">this Division&nbsp;</a>“selectively reviews company securities filings through its filing review process to monitor and to enhance compliance with disclosure and accounting requirements.”
Bloomberg ETF analyst James Seyffart stated that filing for an amendment is an essential routine step. The steep competition for first-mover advantage also necessitates the amendment seeing that WisdomTree is not the only applicant for spot BTC ETF. A number of amendments have already been submitted to the United States SEC by other applicants.
<h2 id="b-applicants-resubmit-multiple-amended-applications-b-span-style-font-weight-400-span">Applicants Resubmit Multiple Amended Applications&nbsp;</h2>
Last month, <a href="https://thecoinrise.com/vaneck-submits-updates-spot-btc-etf-application-details/" rel="noopener noreferrer nofollow">VanEck filed an amended spot Bitcoin ETF application</a> with the SEC where it stated that a seed capital investor acquired Seed Creation Baskets comprising 50,000 shares of the proposed ETF. Bitwise also resubmitted an amended application which took into cognizance all of the queries and feedback provided by the regulator.&nbsp;
Making these amendments have not restricted the SEC from choosing to delay its decision on the applications. In September, the watchdog <a href="https://thecoinrise.com/sec-postpones-decision-of-seven-bitcoin-etf-applications/" rel="noopener noreferrer nofollow">postponed&nbsp;the decision on WisdomTree’s spot Bitcoin ETF proposal</a>. A total of seven proposals including Invesco Galaxy, Valkyrie, VanEck, Bitwise Asset Management, BlackRock, and Fidelity were also moved forward.&nbsp;
In a matter of a few weeks, <a href="https://thecoinrise.com/sec-further-delays-its-decision-for-valkyrie-bitcoin-fund-etf/" rel="noopener noreferrer nofollow">Valkyrie</a> and ARK Investment Management-21Shares received a notification from the SEC stating that <a href="https://thecoinrise.com/sec-delays-decision-on-ark-21sharess-spot-bitcoin-etf-application/" rel="noopener noreferrer nofollow">it needed ample time to make a decision</a>. As a result, a decision is not to be expected until January 10.&nbsp;
<h2 id="b-crypto-community-expect-an-approval-b">Crypto Community Expect an Approval&nbsp;</h2>
All fingers remain crossed in anticipation for the decision although many experts and analysts are confident that the SEC would give a favorable response to the applications this time around. <a href="https://thecoinrise.com/galaxy-digital-ceo-says-etf-will-likely-be-approved-by-sec/" rel="noopener noreferrer nofollow">Mike Novogratz</a>, Galaxy Digital CEO believes that an <a href="https://thecoinrise.com/approval-of-us-bitcoin-etf-within-reach-galaxy-digital-ceo/" rel="noopener noreferrer nofollow">approval for spot Bitcoin ETF is within reach</a>.&nbsp;
Eric Balchunas and James Seyffart have predicted that there is a <a href="https://thecoinrise.com/bloomberg-analysts-see-90-probability-of-having-spot-bitcoin-etf-approval/" rel="noopener noreferrer nofollow">90% probability that the SEC will approve the applications</a>. 
The post <a href="https://thecoinrise.com/wisdomtree-files-amended-spot-bitcoin-etf-application/" rel="noopener noreferrer nofollow">WisdomTree Files Amended Spot Bitcoin ETF Application</a> appeared first on <a href="https://thecoinrise.com" rel="noopener noreferrer nofollow">Latest News and Insights on Blockchain, Cryptocurrency, and Investing</a>.

WisdomTree Files Amended Spot Bitcoin ETF Application

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